Marubeni Corporation to boost grain supplies to Asia considerably


Marubeni Corporation, Japan’s largest agricultural trader, forecasts that China will increase corn imports almost four times in the coming decade, Bloomberg agency reports. According to USDA, China imported a record 5.231 MMT of corn in 2011/2012 season. Its imports may expand to 7.0 MMT in 2013/2014 and 19.6 MMT in 2022/2023, USDA forecasts. Marubeni, whose capacities grew substantially after the purchase of the US grain company Gavilon Group LLC, intends to increase its share in Chinese corn imports to 20%. The corporation is planning to find a partner next month to expand own feed grain sales business in South-East Asia. Marubeni and China’s New Hope Liuhe Co. created an alliance last year to boost their joint presence in the developing markets of Africa, the Near East, Eastern Europe and South America.