Country News
Brazil: The Chamber of Foreign Trade (CAMEX) has delayed until next month and depending on further analysis the decision on whether to impose duties on imports of ethanol from the U.S. Brazilian producer groups have asked the government to impose duties of between 16 and 20 percent on the imports. (Reuters)
China: CNGOIC says that Chinese farmers will plant 35.84 million hectares of corn this year, which is down 2.5 percent from a year ago. Production is expected to be 211.5 MMT, a 3.7 percent reduction from last year. The corn growing province of Liaoning has only planted 44.6 percent of its corn versus 66.4 percent this time last year because of drought.
Meng Shengda of Shengda Futures describes corn sales this past week as bullish and exceeding expectations. He said it is based on strong demand and smaller stocks than expected. Prices received at the auction were higher than expected. The government will sell another 860 KMT from 2014 corn stocks at the next auction.
India: Prime Minister Narendra Modi has asked officials to expedite the establishment of next generation bioethanol refineries utilizing agricultural residues. He wants an emphasis on ethanol blending in gasoline. (Deccan Heralnd)
Kenya: Jaindi Kisero says the whole grain marketing system must be overhauled and that the food supply chains are “primitive and exploitative” [sic]. There are multiple price regimes – tariff-free imports, tariff-paid imports, strategic reserve – with players gaming the system to maximum profit. (Daily Nation/Syndigate)