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AMIS Market Monitor

last release: Nov 2017

Policy Developments

ACROSS THE BOARD

  • On 16 October, China reduced the subsidy for maize growers in Heilongjiang province to CNY 133.46 per mu (0.067 hectare), which would be around USD 303.2 per hectare, down sharply from CNY 153.92 (USD 342.9 per hectare) last year. The subsidy for soybean was set at CNY 173.46 per mu (USD 390.15 per hectare).
  • China suspended, from end October 2017, public auctions of old-crop maize and soybeans from state reserves, with a view not to hinder the marketing of the new 2017/18 crop.
  • On 26 October, China set the 2018 import quota for wheat at 9.64 million tonnes; for maize at 7.2 million tonnes; and for rice at 5.32 million tonnes. 

BIOFUELS

  • On 4 October, Argentina authorized to increase the price of maize-based ethanol for oil refiners to blend into gasoline to ARS 13,62 (USD 0.8) per litre, 0.4 percent higher than in September.

STOP PRESS

  • On 10 September, Turkey imposed a requirement that agricultural imports from the Russian Federation receive approval from Turkish authorities, effective from 9 October. Approvals will be sought for nine products, including maize, paddy rice, as well as common and durum wheat.
  • On 28 September, the Republic of Korea announced the procurement of 720 000 tonnes of rice from 2017 harvest in order to ease pressure on domestic prices amid large supplies. The purchase of rice will be of 350 000 tonnes for state reserves and 370 000 tonnes for price stabilisation.
  • On 29 September, China announced a cut in maize planting area to around 670 000 hectares, mainly in favour of soybeans production.
  • On 30 September, the EU increased the quantities of tariff-free agricultural products exported from Ukraine to the EU. The annual common wheat import quota was raised by 16 000 tonnes and by 625 000 tonnes for maize.