date:Feb 01, 2016
ting a record high last year.
If corn prices were set rationally on basis of supply and demand, China wouldnt need to import at all, said Chen Xiwen, deputy director with the Communist Partys Central Rural Working Leading Group, the countrys top rural policy maker.
Domestic corn prices are not competitive and the price needs to be set by the market to reduce imports of corn and corn substitutes, he told a Thursday press briefing.
He said the import price of 1,600 yuan ($243.24) per ton was ac