China to be World’s Leading Corn Importer Even With Record Crop

Sep 15, 2021

By Chuck Abbott

A favorable growing season and government policies that encourage crop rotations will result in a record corn crop in China, estimated the USDA. China is second to the United States as a corn producer and will be the world’s largest corn importer for the second year in a row, according to the monthly World Agricultural Production report.

The Chinese crop, now being harvested, was forecast at 273 million tonnes, 5% larger than the previous harvest. All the same, China would import 26 million tonnes of corn, the same amount as in the just-ended 2020/21 marketing year, said the monthly WASDE report. Both reports were issued last Friday.

“Imports are unchanged for 2021/22 as the gap between China’s domestic and international corn prices is expected to persist, particularly in the feed-deficit South,” said the WASDE report. Three-fourths of the corn crop is used as livestock feed. China displaced Mexico as the top corn importer in 2020/21.

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Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

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