Posted 4/3/2024, 2:37:00 AM
China Seeks to Curb Corn Imports Ahead of Planting Season to Prop Up Domestic Prices
- Chinese customs asked traders to limit foreign corn deliveries into bonded areas to ease domestic oversupply and support prices before planting season
- Traders use bonded areas to bring in cheaper imported corn that avoids high tariffs
- Officials stepped up checks on cargoes and tightened processors' requirements to limit imports
- Any China moves to curb imports could further pressure global corn prices weighed down by supplies
- While message delivered to reduce imports, not clear how forcefully it will be implemented or if subject to change
