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China Faces 500,000-ton Deficit in Corn this Year
8 March 2007
Xinhua. China will face a 500,000-ton deficit in corn production this year, according to the latest report from China National Grain and Oils Information Center.
The center forecast that annual corn consumption for 2006-2007 would reach 144.5 million tons, but corn output would be 144 million tons.
Global corn prices have soared to a ten-year high last month as a result of demand in the US for ethanol production. Chinese farmers have increased their production, replacing soybean and other crops with corn. But domestic demand in China&mash;which also uses corn for ethanol—has expanded as well.
China is the world’s second largest corn producer after the United States, accounting for 20% of the world’s production.
March 8, 2007 in Brief | Permalink | Comments (4) | TrackBack (0)
Comments
Posted by: stomv | March 08, 2007 at 07:35 AM
... and it is also the tip of the iceberg ...
Posted by: socrates | March 08, 2007 at 10:19 PM
Well, maybe this will eventually work on the trade deficit. I read an article a while back that drew a comparison to our farmers and opec when it comes to grain and China.
Posted by: Paul | March 09, 2007 at 05:24 AM
Yes, this is still a small percentage, but it is an interesting paradox. Do we use corn and other feedstocks for food to eat or for fuel to drive our cars? Don't spill any of your E85 ethanol, Don't you know how many people in China are starving!
Posted by: Barry R. Guthrie | March 09, 2007 at 11:33 AM
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Three tenths of one percent short hardly seems newsworthy. That's likely to be well within the margins of error for either estimate.