Corn – CRI Report

Research Report on China’s Corn Import 2023-2032

admin — Mon, 14 Nov 2022 03:38:22 +0000

China’s Corn Import Overview

China’s corn production is among the highest in the world. With the development of China’s farming industry, the demand for feed is rising, so China still needs to import a large amount of corn every year.

In 2021, China imported a total of 28.348 million tons of corn, up 152.2% year-on-year, and US$8.03 billion in imports, up 223.6% year-on-year. According to CRI analysis, China imported 18.463 million tons of corn in the first three quarters of 2022, down 25.9% year-on-year, with imports of US$6.25 billion, down 10.3% year-on-year.

CRI analysis shows that the average price of China’s corn imports generally shows a sustained upward trend in 2018-2022. in 2018-2020, the average price of China’s corn imports stabilizes at US$220 per ton, and in 2021 the average price of China’s corn imports rises to US$283.3 per ton, up 28.3% y-o-y. in the first three quarters of 2022, the average price of China’s corn imports continues to rise to US$338.8 per ton, an increase of 21.1% year-on-year.

China’s corn imports consist mainly of corn for seed and corn excluding for seeds. Corn excluding for seeds is the main type of corn imported into China. CRI analysis shows that the U.S. and Ukraine are China’s main sources of corn imports, with both accounting for more than 95 percent of China’s corn imports.

In 2021, China imported 19.287 million tons of U.S. corn, accounting for 69.9% of the total import volume and US$5.59 billion, accounting for 69.7% of the total import volume in that year. China imported 8.233 million tons of corn from Ukraine, accounting for 29.0% of the total imports and US$2.35 billion, accounting for 29.3%.

China has become the world’s largest importer of corn in 2021.CRI expects China’s large population base, escalating consumption structure and rapid development of the corn processing industry, as well as limited land resources in China and limited room for growth in grain production. CRI expects China’s corn imports to continue to rise from 2023-2032.

Topics covered:

China’s Corn Import Status and Major Sources in 2018-2022
What is the Impact of COVID-19 on China’s Corn Import?
Which Companies are the Major Players in China’s Corn Import Market and What are their Competitive Benchmarks?
Key Drivers and Market Opportunities in China’s Corn Import
What are the Key Drivers, Challenges, and Opportunities for China’s Corn Import during 2023-2032?
What is the Expected Revenue of China’s Corn Import during 2023-2032?
What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
What are the Competitive Advantages of the Major Players in China’s Corn Import Market?
Which Segment of China’s Corn Import is Expected to Dominate the Market in 2032?
What are the Major Adverse Factors Facing China’s Corn Import?

The post Research Report on China’s Corn Import 2023-2032 first appeared on CRI Report.

Research Report on China’s Import Tariff Quotas for Agricultural Products, 2019-2023

admin — Wed, 22 May 2019 07:01:14 +0000

Description
The Interim Measures for Administration of Import Tariff Quotas for Agricultural Products (hereinafter referred to as the Interim Measures) was a government document formulated by China’s National Development and Reform Commission and put into force on Feb. 5, 2002. The Interim Measures determines the annual import tariff quotas for agricultural products according to China’s schedule of concessions on goods in the accession to the WTO. Agricultural imports in quota are subject to low tariff rates while those out of quota are subject to high tariff rates.
According to CRI’s analysis, by May 2019, the Interim Measures applies to agricultural products including wheat, corn, rice, sugar, cotton, wool and wool top. The import tariff quotas for wheat, corn, rice, sugar and cotton are classified into the quotas to state trading enterprises and the quotas to non-state trading enterprises to give priority to state-owned enterprises. The import of wool and wool top is exclusive to designated companies.
CRI believes that China’s tariff rate quota administration for agricultural products has both advantages and disadvantages. On one hand, it protects domestic agricultural product market from the impact of large quantities of low-price agricultural imports. Low in-quota tariff rates ensure low-cost raw materials to the agricultural product processing enterprises in China. On the other hand, the tariff rate quota administration triggers international trade disputes. For example, in Dec. 2016, the United States filed a lawsuit with the WTO against China’s administration of the import tariff quotas for wheat, rice and corn. In Apr. 2019, the United States won WTO ruling against China’s use of tariff-rate quotas for rice, wheat and corn, which it successfully argued limited market access for U.S. grain exports. Besides, some applicants to the import tariff quotas are not agricultural product processing enterprises but trade companies. They resell agricultural products in quota to agricultural product processing enterprises with price markups. Consequently, agricultural product processing enterprises have to pay more for agricultural imports.
According to CRI, the annual import tariff quotas for some agricultural products cannot be used up. For example, in 2018, China’s corn imports totaled 3.52 million tons, accounting for only 48.90% of the quota quantity of 7.20 million tons; the wheat imports totaled about 3.10 million tons, accounting for only 32.20% of the quota quantity of 9,636,000 tons. Such surpluses are caused by the strict eligibility criteria. Many downstream enterprises (such as feed processing enterprises and food processing enterprises) that fail to obtain the import tariff quotas purchase raw materials from other sources or even purchase agricultural products smuggled into China.
CRI expects that the import tariff quotas for agricultural products will go out of date as China’s foreign trade develops and China’s economy becomes more global. However, most of these quotas will continue to exist from 2019 to 2023 because Chinese government needs to protect the domestic agricultural product market and some state-owned enterprises can make profits from reselling tariff quotas.

Topics Covered:
– Introduction to China’s import tariff quotas for agricultural products
– Analysis on advantages and disadvantages of China’s import tariff quotas for agricultural products
– China’s import of agricultural products subject to tariff rate quota administration
– Major enterprises granted with China’s import tariff quotas for agricultural products
– Forecast on development of China’s import tariff quotas for agricultural products

The post Research Report on China’s Import Tariff Quotas for Agricultural Products, 2019-2023 first appeared on CRI Report.

Research Report on China Corn Industry 2016-2020

admin — Fri, 17 Aug 2018 09:06:18 +0000

Description

According to official statistics, China’s corn yield in 2015 was 224.58 million tons, increasing about 4.14% YOY. Corn has become China’s most important variety of food crop. As regard to corn consumption, only about one third is eaten directly while the rest is used as fodder or industrial material. Macro-economic situation exerts greater influence on corn than on such rations as wheat and rice. In recent years, the demand for corn in China stays at a high level as farming and industrial demand increases.
Most of corn products are primary products whose additional value is low. Another problem in corn processing industry is the excess capacity of primary products especially starch and edible alcohol as well as low operating rate. Besides, as the competition among small enterprises is fierce, the whole industry awaits further integration.
China’s corn import increased from 1,000 tons in 2003 to 5.208 million tons in 2012 i.e. increased by over 5,000 times in a decade, which was rarely seen even in the whole world. China remained the net exporter of corn before 2010. But since 2009, as corn yield dropped and domestic demand for corn increased as a result of the drought, China fastened its corn import and has become the net importer of corn since 2010. In 2012, 5.2074 million tons of corn was imported into China with a year-on-year growth of 197.08%, among which 5.1133 came from the US, increasing 20.3% year on year. During the period of 2013-2015, corn import declined continuously due to the publication of Interim Measures for the Administration of Import Tariff Quotas of Agricultural Products by the Ministry of Commerce of the People’s Republic of China and the National Development and Reform Commission which states that during the period of 2014-2015, the import quotas of corn shall be 7.2 million tons per year, among which only 40% is allocated to non state-owned enterprises and the maximum tariff of import outside quota quantities can be 65%.
Corn price in domestic market is far higher than that in international market. In 2015, 4.73 million tons of corn were imported into China, increasing 82% year on year.
With economic development and improvements in living standards, the demand for meat, egg and milk in China will keep increasing, so does the demand for grains used as fodder. However, due to the deepening urbanization and low gains of planting industry, more and more rural labor force turn to city for jobs instead of engaging in agriculture. Therefore China is expected to remain the largest grain importer in the future.
In the long term, the demand for corn enjoys good prospects of continuous growth. However, as the room for growth of corn yield is limited, the demand gap will expand further. Therefore, it is inevitable for China to increase its corn import. The annual import of corn and its substitutes is expected to surpass 10 million tons in the next few years. Hence the great investment opportunity in Chinese market for grain growers and trade companies.

Readers can get at least the following information through this report:
-corn production in China
-Chinese policy supporting corn growing
-Chinese policy for imported corn
-demand in corn market in China
-development of corn processing industry in China
-major enterprises in corn processing industry in China
-corn import and export in China
-price tendency of corn in Chinese market
-outlook of corn market in China

The author suggests the following groups of people purchase this report:
-corn growers
-enterprises providing agricultural means of production
-corn processing companies
-corn importer and exporter
-investors/research institutions interested in corn market in China

Table of Contents

1 Analysis of Corn Planting in China, 2010-2015
1.1 Overview of Corn Planting in China
1.1.1 Distribution of Planting Areas
1.1.2 Corn Yield, 2010-2015
1.1.3 Characteristic of Corn Production in China
1.2 Cost and Profit of Corn Production in China, 2010-2015
1.2.1 Purchase Price of Corn
1.2.2 Cost of Corn Production
1.2.3 Profit of Corn Production

2 Import and Export of Corn in China, 2010-2015
2.1 Import and Export Policy
2.2 Corn Import in China, 2010-2015
2.1.1 Import Volume
2.1.2 Import Price
2.1.3 Major Source of Import
2.2 Export
2.1.1 Export Volume
2.1.2 Major Export Destination

3 Analysis of Corn Deep-processing Industry in China, 2010-2015
3.1 Overview
3.2 Corn Alcohol Industry in China, 2010-2015
3.2.1 Production
3.2.2 Demand
3.2.3 Import and Export
3.2.4 Major Enterprises in the Industry
3.3 Corn Starch
3.3.1 Production
3.3.2 Demand
3.3.3 Import and Export
3.3.4 Major Enterprises in the Industry
3.4 Corn Starch Sugar Industry in China, 2010-2015
3.5 Modified Corn Starch Industry in China, 2010-2015
3.6 Lysine Industry in China, 2010-2015
3.7 Citric Acid Industry in China, 2010-2015
3.8 Corn MSG Industry in China, 2010-2015

4 Fodder Industry in China, 2010-2015
4.1 Development of Stock Raising Industry in China, 2010-2015
4.1.1 Overview of Stock Raising Industry in China
4.1.2 Pig-breeding Industry in China
4.1.3 Poultry Industry in China
4.1.4 Stock Raising Industry’s Demand for Corn in China
4.2 Industrial Feed Industry in China, 2010-2015
4.2.1 Production of Industrial Feed in China, 2010-2015
4.2.2 Product Structure of Industrial Feed in China, 2010-2015
4.2.3 Industrial Feed Industry’s Demand for Corn in China, 2010-2015

5 Market Price of Corn in China, 2010-2015
5.1 Spot Price of Corn in China, 2010-2015
5.1.1 Market Price of Corn in Major Producing Areas in China
5.1.2 Market Price of Corn in Major Consuming Areas in China
5.1.3 Analysis of Corn Price in Major Harbors in China
5.2 Market Price of Corn Futures in China, 2011-2014

6 Expectation to Corn Industry in China, 2016-2020
6.1 Factors Affecting Development
6.1.1 Economic Environment
6.1.2 Policy Environment
6.2 Supply and Demand Forecast of Corn Market in China, 2016-2020
6.2.1 Yield Forecast
6.2.2 Demand Forecast
6.2.3 Import and Export Forecast
6.2.4 Forecast of Price Tendency
6.3 Forecast of Fractionized Demand in Corn Market in China
6.3.1 Industrial Feed
6.3.2 Deep Processing
6.4 Forecast of Investment Opportunity in Corn Market in China

Table of Selected Charts

Chart Chinese Government’s Purchase Price of Corn, 2008-2015
Chart Production Deployment of Corn in China
Chart Corn Acreage in China, 2001-2015
Chart Corn Yield in China, 2001-2015
Chart Corn Import in China, 2001-2015
Chart Major Source of Import of Corn in China in 2015
Chart Average Price Tendency of Corn in China, 2010-2015
Chart Industrial Consumption of Corn in China, 2010-2015
Chart MSG Output in China, 2010-2015
Chart Major Manufacturers of Corn Alcohol and Their Capacity in China
Chart Industrial Feed Output in China, 2010-2015
Chart Major Manufacturers of Corn Starch and Their Capacity in China
Chart Forecast of Corn Yield in China, 2016-2020

The post Research Report on China Corn Industry 2016-2020 first appeared on CRI Report.