UPDATE: China Jan-Oct Distillers Dried Grain Imports 1.3 Million Tons
December 12 2011 - 12:51AM
Dow Jones News
China's imports of distillers dried grains in the first 10
months of this year totaled slightly over 1.3 million metric tons,
data shared by Shanghai JC Intelligence Co. analysts showed
Monday.
The data confirm China's buying appetite for the corn-based
animal feed was severely dented by an official antidumping probe
late last year.
Chinese farms and feed traders bought 3.1 million tons of DDG
from the U.S. , prompting an antidumping inquiry from Beijing after
the U.S. opened a probe into alleged Chinese wind-power
subsidies.
The U.S. Grains Council said in a weekend update that Chinese
interest in U.S. DDG exports appears to be reviving, following two
successful recent workshops the council organized in the cities of
Guangzhou and Qingdao.
China is still the second-largest export market for U.S. DDG
after Mexico, the council said.
China's imports of the agricultural commodity in October reached
163,812 tons, down 7% from September, Shanghai JC Intelligence Co.
said, citing customs data. November data will only be available
later this month.
The pace of imports has recovered from the year's low of 66,026
tons posted in May, when Chinese buyers feared punitive tariffs
would be levied against the commodity.
Those fears eased in recent months after the China National
Grain and Oils Information Center, an influential state grain
research agency, downplayed the likelihood of tough sanctions.
The USGC said the bilateral trade remains strong.
"While the pace [of imports] has slowed compared to last year's
record volume, the U.S. continues to export large volumes of DDG to
China, despite an antidumping case initiated by the Chinese
government last winter," the council said.
Working with FoodChina Co., the USGC organized recent Guangzhou
and Qingdao workshops on U.S. DDG, and attendance was "much larger
than we initially planned for," said the council's DDG manager,
Alvaro Cordero.
FoodChina is an online agricultural trading company set up in
2000 by state grain trading giant Cofco Group Co. and foreign
partners, including Continental Grain Co., Archer Daniels Midland
Co. (ADM) and Rabobank.
-By Chuin-Wei Yap, Dow Jones Newswires; 8610 8400 7704;
chuin-wei.yap@dowjones.com.
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