China inks deal to import corn from Brazil
Chinese authorities have inked a deal with Brazil to allow corn imports from the South American coun…Chinese authorities have inked a deal with Brazil to allow corn imports from the South American country.
A Brazilian government official was quoted by Reuters as saying that this development provides a key market for the South American country, which is surplus in grain production.
China primarily imports corn from the US; however, in August, it made a first major shipment from Argentina.
Brazil, meanwhile, has been working to comply with China's requirements on addressing phytosanitary concerns to assure that its crop is free from bugs or fungi.
Brazilian President Dilma Rousseff staff chief Gleisi Hoffmann said, "The agreement signed today enables Brazilian corn to be imported by China."
According to the US Agriculture Department, China imported three million tons of corn in 2012-2013 season, and this volume is expected to rise to seven million tons in 2013-2014 season.