China to import large quantity of GM corn from Brazil Summary: On Nov. 6, 2013, GM corn from Brazil was approved to be inspected and quarantined by the AQSIQ. After the approval of the MOA, a large quantity of GM corn from Brazil will be exported to China. Tag: GM corn, furfural, MSG, DDGS, IMO, cellulosic ethanol, corn oil, corn purchase for temporary reserve, sucrose In Sept. 2013, the total import value of corn products in China witnessed a MoM decrease of 41% while the total export value increased sharply by 171% MoM. According to China Customs, in the first nine months of 2013, China's furfural export value was just USD17.0 million, down 47.4% year on year, due to decreases in both the export volume and the export price of the product in this period. The ex-works price of MSG in China has witnessed a downtrend since Sept. 2013, due to oversupply, weak demand and insufficient cost support. According to data from CCM, the ex-works price of DDGS in China declined remarkably in Oct. 2013, mainly due to the decreasing demand from downstream industries and the increasing supply of DDGS. On Oct. 11, 2013, Baolingbao announced that the company had obtained a new patent——a preparation method for the co-production of high purity IMO and alcohol, with a 20-year validity period.For every tonne of IMO produced by this technology, the total production cost will be reduced by 10%. Recently, Longlive Bio-technology has been committed to developing cellulosic ethanol. On Nov. 13, 2013, the company's project on processing 200,000t/a of straw was approved to be established in Dezhou, Shandong Province, which is mainly to produce cellulosic ethanol with a capacity of 30,000t/a. As early as Oct. 2013, the company decided to build a subsidiary in Denmark to improve its R&D of cellulosic ethanol. On Oct. 24, 2013, the US Department of Commerce (USDC) announced that it would start anti-dumping and countervailing duty investigations on MSG from China and Indonesia, aiming to define whether these products have threatened the MSG industry in the US. The domestic market price of corn oil remained low during Aug.-Oct., 2013, and is estimated to continue its decline in the near future. According to CCM's data, the domestic market price of furfural has enjoyed an uptrend during Aug.-Oct. 2013, mainly due to tight supply, increasing demand and increasing costs.
The People's Government of Jilin Province decided to start in advance the government's corn purchase for temporary reserve in Songyuan City, Jilin Province from Nov. 8, 2013, which prevented the market price of corn in Songyuan from decreasing. China's total import quota for sucrose will remain 1.945 million tonnes in 2014. However, it remains unknown whether the sucrose import volume continues to be large in 2014 as in the current year. Source: Corn Products China News issued by CCM in November. Table of Contents of Corn Products China News 1311: China to import large quantity of GM corn from Brazil Chinese corn products Imp. & Exp., Sept. 2013 China's furfural export value declines by 47.4% YoY, Jan.-Sept. 2013 Ex-works price of MSG witnesses a downtrend since Sept. 2013 Ex-works price of DDGS declines recently Baolingbao obtains new patent for IMO production, Oct. 2013 Longlive Bio-technology commits to developing cellulosic ethanol USDC's anti-dumping and countervailing duty investigations on MSG native to China and Indonesia Market price of corn oil maintains at a low level, Aug.-Oct. 2013 Market price of furfural enjoys uptrend, Aug.-Oct. 2013 Government purchase of corn for temporary reserve starts in Jilin Province in advance China's import quota for sucrose remains 1.945 million tonnes in 2014 About CCM CCM is dedicated to market research in China, Asia-Pacific Rim and global market. With a staff of more than 150 dedicated highly-educated professionals, CCM offers Market Data, Analysis, Reports, Newsletters, Buyer-Trader Information, Import/Export Analysis, and Consultancy Service. For more information, please visit http://www.cnchemicals.com. Guangzhou CCM Information Science & Technology Co., Ltd. 17th Floor, Huihua Commercial & Trade Mansion, No.80 Xianlie Zhong Road, Guangzhou 510070, China Tel: 86-20-37616606 Email: econtact@cnchemicals.com