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    China to import two million tonnes of corn in 2016/2017, down 37 pct year-on-year: think tank

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    Naija247newshttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    China will import 2 million tonnes of corn in 2016/2017, down 37 percent from the previous year, the National Grain and Oils Information Center estimated in a daily report, as profits from imports have declined.

    Prices of domestic corn have declined to almost the same level as imported corn in the past year, making the latter lose advantage, the official think-tank said.

    The United States agriculture department earlier estimated China corn imports for 2016/17 at 3 million tonnes.

    (Reporting by Hallie Gu and Dominique Patton; Editing by Shri Navaratnam)

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