|
|
|
|
|
|
Economic Slowdown in Southeast
Asia Stalls Growth
in Corn Feed Use And Imports
Competition Intensifies As China Resumes Exports
Image: Southeast Asia Supply
Image: Export Competition in Southeast Asia
Corn import demand in Southeast Asia will likely
rise only marginally in 1997/98 (up 300 thousand tons) despite
lower production prospects. While the growth in feed use was
largely met by domestic supplies prior to the early 1990s,
production has stagnated, leaving feed consumption more heavily
dependent on imports. Due to economic uncertainty, feed use is
expected to be slightly below 1996/97 levels (13.7 million tons)
and food use will likely remain flat.
U.S. corn was unable to benefit from the growth in import demand
by Southeast Asia in the early 1990s due to China's dominance as
an exporter in the region. However, China's withdrawal from the
corn export market late in 1994 enabled more U.S. corn to enter
these markets. Coupled with record high prices in 1995/96, U.S.
corn export value reached $350 million, about 50 percent higher
than the previous year. China's resumption of exports held U.S.
corn export value to only $158 million during the first 11 months
of the 1996/97 marketing year and will also limit U.S. presence
in the market in 1997/98.
|
|
