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| In light of slim corn supply in the market, the state grain system decided to put 2 million MT reserved corn to auction on July 21 ~ 23. BOABC considers the amount too small to curb corn price hike.
The nation¡¯s feed industry and corn-processing industry need to keep a regular corn stock of 11 million MT. The two industries consume about 7 million MT corn a month. The release of 2 million MT reserved corn by auction is far from enough. Corn consumers still have to buy corn in the market. |