Corn Products China News 1507(12 issues per year)

Date: 2015-08

“In July 201 5, China’s corn deep-processing industry remains sluggish. The prices of DDGS, ethanol, corn gluten meal and many corn products continue declining. At the same time, corn price starts to drop two months earlier than last year. CCM’s data show that in July 201 5, China’s market price of corn was USD385.9/t (RMB2,360/t), down 2.2% month on month compared to USD394.5/t (RMB2,41 0/t) in June.

The MOA released the Reply Summary of Suggestions at the 3th Session of the 12th National People’s Congress, indicating that China will increase the price decision of market and reduce the policy interference for corn, soybean, cotton and other varieties with elastic demand. This is an omen that Chinese government may cancel the temporarily purchase and storage policy for corn in the near future.

For the international trade, the exports for corn and its byproducts continues recovering. Along with the coming sales season in summer, the export volume of starch sugar records significant rise. And the import of DDGS starts to rebound, getting away from the influence of GM corn.

It is forecasted that in Aug., the declining corn price is expected to revive the stagnant downstream corn deep-processing market and increase the operating rate.

The USD/RMB exchange rate in this issue is USD1 .00=RMB6.11 49 on 1 July, 201 5, sourced from the People’s Bank of China. All the prices mentioned in this report will include the VAT unless otherwise specified.”

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