China Is Facing Likely Corn Shortage After Summer of Natural Disasters

Corn, one of the main grains in mainland China, is currently entering the harvest season. But due to the impact of natural disasters, government estimates are predicting a significant reduction in corn production and quality this harvest. China has already been dealing with a corn shortage this year, according to reports from various sources, partially due to policy in recent years that saw corn reserves depleted by excessive industrial use of corn for biofuel. Chinese media Caixin recently reported that since April this year, the price of corn in mainland China has soared to the highest in four years, leading the price on the grains’ market. In September, supply concerns pushed Chinese corn futures to a record high. According to the market price of livestock products and feed in the first week of October, released by the Ministry of Agriculture and Rural Affairs, China’s national average price for corn was 2.46 yuan/kg …

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