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Corn price in China

Corn price is used for calculation of regulated minimum price of citric acid in European Union

China plans to buy a further 10 million tonnes of corn for state reserves in northeastern areas to shore up domestic prices, bringing the government's total purchases to 40 million tonnes, or about 24 percent of a projected record harvest, trading sources said on Monday.
Beijing is also considering buying corn for reserves in the country's northern areas, now suffering from the most severe drought in decades, to help farmers, they said.
"The decision for the purchase in northern areas could come before March," said one trading source.
China's corn production is expected to have hit a record 165.5 million tonnes in 2008, a rise of 9 percent from 2007, according to an estimate by the China National Grain and Oils Information Center.
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