According to the results of 2013, import of corn into China will be 5 million tons, approximately the same volume as in the previous year. Such is the forecast of Chinese CNGOIC.
In November, there will be about 0.8 million tons of grain delivered into the country. Given figure is significantly less than market expected. The decline in demand for grain from the PRC has pushed world prices in a downward direction, though many market participants believe that CNGOIC’s assessment is somewhat lowered.
China - one of the world's largest corn importers, therefore, demand molded by them has a significant impact on the prices worldwide. Next year, according to the Chinese government, the national grain harvest will significantly exceed its demand, which will lead to narrowed import purchases. This can lead to a significant market decline of world prices for corn, although not all analysts, as of today, however, agree with the assessment of the future of the Chinese harvest.