The largest agreement to buy Chinese corn from the United States so far

According to the United States Department of Agriculture on Friday, January 29, 2021, China made its largest purchase of corn from the United States. Because this country is trying to meet the increasing demand for livestock and poultry feed.

According to the United States Department of Agriculture, private sector exporters have reported sales of 2.108 million tons of corn for delivery in the 2021-2021 fiscal year to China. This was the second largest daily sales record recorded; And the only deal made in January 1991, which was the agreement to buy 3.172 million tons of corn to the former Soviet Union, has been bigger than that.

Also, this purchase is considered one of the biggest corn purchases in China. The previous purchase in July 2020 was 1,937 million tons. The Chinese government seeks to increase the import of corn to the country. Three sources told Reuters in October that corn supplies were running short after hurricanes and drought damage in China.

This week’s net sales, including China’s purchases, amounted to 3.74 million tons of corn from American suppliers. Also, Chinese buyers have purchased 132,000 tons of corn (a shipment worth two ships) for delivery in the 2021-2022 financial year.

China’s corn imports could reach 25 to 27 million tons in the 2021-2020 crop year, according to the head of Chicago-based consulting firm AgResources Co. on Wednesday; Of which 18 to 20 million tons are from the United States of America.

If this happens, China will become the largest buyer of corn in the world. In the fiscal year 2019-2020, China’s total corn import was only 7.3 million tons.

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