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China delegation visit to US next week for wheat purchase talks - COFCO official
AFX European Focus, February 9, 2004
A Chinese delegation, lead by COFCO Chairman Zhou Mincheng and officials from the National Development and Reform Commission (NDRC), will travel to the US next week for wheat purchase talks with industry players, the general manager of COFCO's wheat department, Yang Hong, told AFX-Asia.
During the one-week visit starting on Feb 15, the China National Cereals, Oil & Foodstuffs Import & Export Corp and NDRC will discuss relations with the US wheat industry and research the market there.
Yang Hong said the trip includes three US cities, namely Washington, Chicago and Portland, and that the visit follows an invitation from the US Wheat Association.
Yang said China's import tariff quota for wheat this year is 9.3 mln tons according to the WTO agreement, compared to 8 mln tons last year, but the actual imports of wheat will depend on the price difference between the international and domestic markets, as well the domestic demand this year.
COFCO, the largest state-owned importer and exporter of agricultural goods, signed a deal last December to purchase 1 mln tons of wheat from AWB Ltd, formerly the Australian Wheat Board.
MGR Archive 9.2.2004
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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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