On 10 July, China's MOA and MOF jointly released the Key Supportive Policy for Farmers for 2020, detailing the subsidies for corn and soybean farmers.
On 23 June, the Science & Education Department of the MOA published 71 safety certificates for agricultural GMOs, including for 1 corn variety and 1 soybean variety.
China's MOA said that this year, the recovery of national pig production is rapid and beyond expectations. Recently, the government has published several supportive policies to accelerate recovery.
A few days before the ban on AGPs became effective on 1 July, feed production companies in Guangdong and Yunnan provinces increased their feed prices by approximately USD7.07/t-USD14.14/t (RMB50/t-RMB100/t). The Secretary-General of the CAAA highlighted that there will be opportunities and challenges ahead.
In early and mid-July, many listed pig enterprises published semi-annual reports or result estimates for H1, reporting explosive sales growth compared to a year earlier.
In late June, Henan Feitian published the EIA report of its starch intelligent & green production line construction project on its homepage. With a total investment of USD63.64 million (RMB450 million), this project will be able to produce 420,000 t/a of corn starch from 600,000 t/a of corn.
On 18 June, COFCO Bio-chemical Gongzhuling commenced pilot production of its 10,000 t/a modified waxy corn starch & reclaimed water recycling project at its modified starch plant. With a total investment of USD17.11 million (RMB121 million), this project will be able to produce 8,000 t/a of HDP and 2,000 t/a of acetylated distarch adipate.
On 20 April, Weifang Ensign published the EIA report of the 400,000 t/a premium citric acid green & intelligent manufacturing project; and between 16 June and 14 July, the business published the completion-based environmental protection check & acceptance report of its 600,000 t/a citric acid upgrading project on the homepage.
China Customs indicate that in Jan.-May, domestic citric acid exports rose 9% YoY to 468,600 tonnes at an average export price of USD603.19/t (down 8.49% YoY), with accumulated export values slipping by 0.69% YoY to USD280 million.
This month, corn starch prices rose 5.60% MoM and 4.54% YoY to USD377.60/t, due to the ever-increasing corn prices, producers' low productivity and the growth of downstream demand.
Table of Contents
Column 1 Governmental Direction
China maintains corn and soybean farmer subsidies for 2020-2022
MOA approves 71 GMO safety certificates including 1 corn and 1 soybean variety
Better-than-expected recovery of pig capacity with supportive government policies
Column 2 Market Dynamics
China's AGPs ban on 1 July pushes up feed prices
Thirteen listed pig companies witness sales surge in H1
Column 3 Company Developments
Henan Feitian's starch intelligent and green production line project EIA
COFCO Bio-chemical Gongzhuling trials modified waxy corn starch project
Weifang Ensign continues to expand citric acid capacity
Column 4 Import & Export Analysis
Chinese corn products Imp. & Exp., May 2020
China's citric acid exports rise 9% to over 450,000 tonnes in Jan.-May
Column 5 Price Update
Price update of corn products, July 2020
China's corn starch prices remain upward trend in July
Column 6 News in Brief
CASDE for July 2020
Yihai Kerry settles another major project in Zhoukou Henan
China approves 1 st FAW pesticide registration
Qinhuangdao Lihua Starch's profits soar 62.64% in Jan.-May
Fujin Heilongjiang signs 300,000 t/a quick-dissolvable glue powder project
Star Lake Bioscience to trial Zhaodong Biological Fermentation Industrial Park in early Aug.
Henan Jindan Technology's net profits rise 13.84% in H1
Tongjiang Wanli Tongda commences grain warehousing logistics & further processing project
COFCO Tech predicts H1 net profits to soar by 72%-115% YoY
MOA issues Notification on Registering Certificates of Free Sale for Feed and Feed Additives