Overview:
Driven by the government’s measures and the brisk downstream market, Chinese corn price has kept stable at high level this September. It is predicted that the price will stay at this level, or decrease a little bit after the newly harvested corn marketed.
In accordance with the stable corn price in the market, corn starch market is also quiet. However, owing to the high corn starch price, many corn starch producers have achieved fat profit in 2010.
As for imports and exports, the import volume of corn products in the first seven months of 2010 has witnessed great increase year on year, while the export situation changes little. And it seems that a trade war between EU and China is likely to occur. On July 30th, 2010, EU announced a final decision that Chinese sodium gluconate producers will be imposed an anti-dumping duty ranging from 5.6% to 53.2%. China also decided to run the anti-subsidy investigation into EU’s potato-based starch.
EU’s anti-dumping duty on Chinese sodium gluconate seems to have small impact.
China’s import of corn products sees better performance this July compared with this June, and export performance is basically the same as this June.
Export volume of sugar alcohols to some destinations witnessed obvious changes in the first seven months of 2010.
China’s VC export price may stop declining and gradually grow in the next months.
Cornstarch price has been stable this September, attributed to stable corn price in the market.
COFCO may sell its stock in BBCA to China Starch.
Xiwang Sugar achieved a great performance in H1 2010, whose new oligose production line may be launched this year.
Chinese feed industry will continue its brisk momentum in late 2010.
Xiwang Food strengthens its corn oil’s promotion.
China decides to run anti-subsidy investigation into EU’s potato-based starch, which is expected to save domestic potato-based starch industry.
Chinese government’s strengthening regulation and control of corn industry keep corn price stable.
The Republic of South Africa is exploring a way forward China for its 4 million tonnes of corn.
Foreign brand corn seed shines in China.
A new semidry process of non-crystal granular corn starch was successfully developed.
Companies Mentioned
China Starch Holding Limited., Anhui BBCA Biochemical Co., Ltd., Xiwang Sugar Holdings Co., Ltd., Xiwang Food Co., Ltd.
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