Corn prices may rise this year on growing demand from the downstream deep-processing industry, Information Economics Daily reported Monday, citing unidentified analysts. Import volume is expected to be stable, with the government unveiling favorable corn purchasing and storage policies, the report said. Corn futures price on the Chicago Board of Trade (CBOT) plunged 39.6 percent in 2013 due to oversupply, marking the largest decline since 1960, the report said, without providing price data in China. Meanwhile, China reported the fifth consecutive year of corn output growth and nearly 200 percent expansion in corn import in 2013 compared to the previous year.
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