Drop in Price of Corn Predicted

China may decrease its maize imports by up to 60% in the next 12 months, which would ease the pressure that its demand has put on prices.

Thursday, September 27, 2012

The decline in imports by China would generate relief for other buyers amid falling global supplies after the drought in the grain belt of the United States.

"China could buy 2.15 million tonnes of maize in 2012/2013, while production could rise by 0.4% to 192.6 million tonnes, below the official estimates by the Department of Agriculture (USDA), according to a survey by Reuters among 10 analysts and traders.

"U.S. corn prices are much higher than domestic prices and consumption by corn processors is weak," said Ma Wenfeng, an analyst at Beijing Orient Agri-business. "Many processors are losing money and operating at lower capacities," said the analyst", as published by Reuters.



More on this topic

Drops in Imports of Agricultural Capital Goods in Honduras

November 2013

While the fall in imports of capital goods in general was 4.6%, in the agricultural sector the reduction was 24.3%.

This is mainly due to reduced tractor imports from Mexico.

Latribuna.hn reports that "there was a similar trend for capital goods for transport, with a reduction of $48.9 million compared to what was achieved in the first eight months of 2012."

Chinese Consumers Prefer Imported Food

October 2012

Recent surveys conducted by the company Ipsos, reveal an increase in the number of Chinese consumers who prefer imported to locally produced food.

A press release from the Costa Rican Trade Promotion Office (Procomer) reads:

According to the results of a survey conducted by the international company Ipsos, there has been an increase in the number of Chinese consumers who prefer imported to locally produced food.

Guatemala Imports 12.7% Less From Brazil

February 2010

In 2009, Guatemala imported $279 million, 12.7% less than in 2008, when it bought $320 million.

The auto industry was the worst-hit, with a 64% reduction: from $31.9 million in 2007 to $11.2 million in 2009.

From newspaper Elperiodico.com.gt: “José Javier Casas, vice president of the Vehicle Importers Association, explained they have reacted to the appreciation of Brazil’s currency, the Real.

Red Figures in Guatemalan Trade

August 2009

In the first half of the year, exports were down 6.9% and imports dropped 28% when compared to the same period of 2008.

According to data by the Central Bank of Guatemala (Banguat), exports totaled $3.714 million while imports summed $5.386 million.

From website Prensalibre.com: "Rubén Morales, Economy Minister, said that, in the light of this situation, they will foster exports with more trade missions to countries where Guatemala has free trade agreements".

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