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China corn export 2009

China sets 2009 corn export quota at 500,000 tons

 China, the world's second largest corn grower, has set its corn export quota at 500,000 metric tons in 2009 to further bolster the price of agriculture products, sources reported.

The quota, which accounts for 0.3% of the total, is worth about US$73 million at current prices. More permits may be issued later if the deems it necessary, according to the source.

, which earlier was considering allowing as much as 5 million tons to be exported, had been expected to issue fewer permits to control prices and ensure domestic supplies.

In the first ten months of 2008, China's corn exports plunged 96% to 210,000 tons, according to statistics from the customs.



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