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Maize prices likely to rise further in China
December 15, 2003 - After a period of increase, maize prices in China may pick up again in near future.
Experts made the prediction based on five factors:
1.Maize output has decreased this year and farmers are reluctant to sell. Chinas maize output is expected to be 114 million tons this year, down six percent from 2002. The output decrease is especially obvious in the three provinces in Northeast China, the main maize production base of the country.
2. Maize inventory has decreased and the tension between supply and demand has eased. According to official statistics, maize inventory stood at 25 million tons in the 2002-2003 crop year, down 7.4 percent from the previous year.
3. As holiday nears, demand is going brisk.
4. Export kept increasing. Customs statistics show that China exported 12.25 million tons of maize in the first 10 months of this year, up 46 percent year-on-year.
5. China has introduced policies conducive to price hike of maize.
MGR Archive 15.12.2003
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Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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