World Grain - November 2008 - 22

COUNTRYFOCUS

2.4 million. Corn imports are an unchanged 100,000 tonnes, while exports
are set to fall to 500,000 tonnes from
1.4 million.
China will import 1.4 million tonnes
of barley in 2007-08, up from 1.1 million
the year before. It will export 100,000
tonnes of sorghum, down from 250,000.
The IGC put China's imports of soybeans in 2008-09 (October-September)
at 36.8 million tonnes, up from 36.5 million in 2007-08. Soybean exports are unchanged at 500,000 tonnes, while China
is also expected to export an unchanged
700,000 tonnes of soymeal. It also has
China importing 800,000 tonnes of rapeseed in 2008-09, down from 900,000.
China is a huge producer of rice, with
the 2008 crop at 187.3 million tonnes,
according to the IGC. That compares
with 185.4 million in 2007.
China also imported 300,000 tonnes
of rice in 2008 (January to December),

compared with 500,000 the year before.
Its rice exports are estimated at 1 million tonnes for 2008, compared with 1.3
million in 2007.
China's big crop this year has made
it pretty well self-sufficient, Cary
Sifferath, senior director at the U.S.
Grains Council in Beijing, told World
Grain, "The very large winter wheat
harvest they had this summer means
there should be enough corn and feed
wheat," he said. "Because of the price
of corn, we expect some wheat to move
into feed channels. We don't see China
importing corn or feed grains in the
next nine months or so. A year from
now may be different."
Government policy makes it unlikely
that China would be shipping any grain
abroad. "At the same time, the government has put on fairly strict controls on
exports of corn, rice and wheat. So we
don't see China becoming an exporter."

CONTROLLING INFLATION
The government's aim is to insulate
China from potential inflation caused
by movements in world markets. "They
are trying to maintain stock levels and
control food inflation by holding onto
all the grain they have," Sifferath said.
"It keeps them off the market."
In more normal times, some of the
Southeast Asian countries like South
Korea have been traditional buyers of
grain from China.
The policy is meant to prevent price
increases, but it also prevents prices in
China from reacting to falls in world
prices. "The U.S. corn market has come
down, but you saw corn prices in China
not correlated with the rest of the world,"
Sifferath said.
"The Government of China (GOC)
has managed price inflation through
the implementation of policy measures
that included price caps and export con-

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For more information, see Page 82.

22

November 2008 / World Grain / www.World-Grain.com



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World Grain - November 2008

Table of Contents for the Digital Edition of World Grain - November 2008

Contents
World Grain - November 2008 - 1
World Grain - November 2008 - 2
World Grain - November 2008 - 3
World Grain - November 2008 - Contents
World Grain - November 2008 - 5
World Grain - November 2008 - 6
World Grain - November 2008 - 7
World Grain - November 2008 - 8
World Grain - November 2008 - 9
World Grain - November 2008 - 10
World Grain - November 2008 - 11
World Grain - November 2008 - 12
World Grain - November 2008 - 13
World Grain - November 2008 - 14
World Grain - November 2008 - 15
World Grain - November 2008 - 16
World Grain - November 2008 - 17
World Grain - November 2008 - 18
World Grain - November 2008 - 19
World Grain - November 2008 - 20
World Grain - November 2008 - 21
World Grain - November 2008 - 22
World Grain - November 2008 - 23
World Grain - November 2008 - 24
World Grain - November 2008 - 25
World Grain - November 2008 - 26
World Grain - November 2008 - 27
World Grain - November 2008 - 28
World Grain - November 2008 - 29
World Grain - November 2008 - 30
World Grain - November 2008 - 31
World Grain - November 2008 - 32
World Grain - November 2008 - 33
World Grain - November 2008 - 34
World Grain - November 2008 - 35
World Grain - November 2008 - 36
World Grain - November 2008 - 37
World Grain - November 2008 - 38
World Grain - November 2008 - 39
World Grain - November 2008 - 40
World Grain - November 2008 - 41
World Grain - November 2008 - 42
World Grain - November 2008 - 43
World Grain - November 2008 - 44
World Grain - November 2008 - 45
World Grain - November 2008 - 46
World Grain - November 2008 - 47
World Grain - November 2008 - 48
World Grain - November 2008 - 49
World Grain - November 2008 - 50
World Grain - November 2008 - 51
World Grain - November 2008 - 52
World Grain - November 2008 - 53
World Grain - November 2008 - 54
World Grain - November 2008 - 55
World Grain - November 2008 - 56
World Grain - November 2008 - 57
World Grain - November 2008 - 58
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World Grain - November 2008 - 60
World Grain - November 2008 - 61
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World Grain - November 2008 - 78
World Grain - November 2008 - 79
World Grain - November 2008 - 80
World Grain - November 2008 - 81
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