Country News
China: A construction plan released by China’s National Development and Reform Commission and the Ministry of Finance states the government will look to upgrade its grain silos nationwide between 2015-2020, according to Reuters. New storage facilities that will be able to store 50 MMT are slated to be completed by the end of 2015.
Further on China: Reuters reports that Heilongjiang Province, the top corn producer in the country’s northeast, has announced it will increase subsidies to corn processors to help keep them afloat. The subsidies were doubled earlier in the year to total 200 yuan/MT and will now be doubled again to 400 yuan/MT ($64.43/MT).
India: Almost 80 percent of India has received better-than-average or normal monsoon rainfall since June 1, which has allowed farmers to begin planting corn, according to Bloomberg News. Rainfall for June is 11 percent above average thus far, however July precipitation is considered the key to a good harvest and totals for July are expected to be about 12 percent below average due to a developing El Nino weather pattern.
North Korea: The FAO is reporting that North Korea’s main growing regions will likely see their production cut in half, which will further increase the country’s food shortages, reports Reuters. UN representatives visited the main growing regions of North Hwanghae and South Hwanghae provinces and discovered that the country’s barley crop is at severe risk due to drought.