Rising incomes and a growing taste for meat are changing China’s appetite for corn imports, with potentially profound effects on global food markets.
Under Beijing’s policy of “self-sufficiency”, corn imports, along with rice and wheat, have been kept to a minimum since China lowered its import barriers in 2001. The soyabean market, in contrast, was opened up to imports to release land for the key staples, and China has become the world’s largest importer of the oilseed.
But the world’s corn traders are feeling more upbeat as growing demand for livestock feed has brought a steady rise in corn imports.
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