China's corn imports up in March

Source: Xinhua| 2019-04-28 16:46:40|Editor: Li Xia
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BEIJING, April 28 (Xinhua) -- China's corn imports soared in March due to rapidly-growing demand from the domestic market, customs data showed.

Corn imports reported an over-five-fold year-on-year increase to 420,000 tonnes last month, according to the website of the General Administration of Customs. The amount totaled nearly 1 million tonnes in the first quarter, also up significantly.

As part of the agricultural structural reform, the country has reduced the planting area of corn and encouraged corn processing industries, leading to a mild supply shortage in the previously glutted corn market.

Analysts predict corn imports will see a marked increase this year and prices will be higher than in 2019.

China imported 3.52 million tonnes of corn last year, up 24.7 percent from that of 2017 and with Ukraine as the largest supplier.

Customs data also showed the imports of farm produce including seafood, beef and fruits went up in March and the imports of wheat, soybeans and sugar declined.