Market Perspectives March 2, 2017

Country News

Africa: The Mozambican Agricultural Research Institute has planted its first GM maize test crop under the Water Efficient Maize for Africa program. (Crop Protection News) The National Bio-safety Authority had given approval for testing the GM corn in Kenya but then the National Environmental Management Authority halted the project, saying the ban on GMO imports also applies to controlled growing tests. Kenya is importing corn from Mexico and Ukraine due to a drought-stunted domestic crop. (Bloomberg) 

China: Heilongjiang province has joined Jilin and Liaoning provinces in offering subsidies to feed millers for using corn. Heilongjiang will offer 300 yuan ($43.67) per ton subsidies while Jilin has promised 200 yuan/MT and Liaoning is paying just 100 yuan. These major corn producing provinces also paid subsidies to feed millers in October of last year. (Reuters) Jilin Province has also sought a delay in sales of corn from state stockpiles in an effort to boost demand for supplies directly from farmers. (Bloomberg)

Japan: Eleven feed makers tapped into 97 percent of the 340,000 tons of corn approved by MAFF for use in light of delayed shipments from the U.S. The corn being utilized represents 39 percent of the 850 KMT of corn (equivalent to one month’s domestic demand) that 17 feed makers are required to stockpile in case of emergency. (Reuters) 

Philippines: Ethanol imports in 2016 reached a record level at 440 million liters. That is a 21 percent increase from 2015 when ethanol imports were also up from the year before. The lack of domestic production capability is driving imports. (AgraNet) 

Ukraine: Spring planting will start early in Ukraine with an estimated 2.59 million hectares to be sown to barley, down from 3.1 million hectares in 2016. (Bloomberg)