BEIJING, April 19 China will work off its corn
stockpile in the next three to five years, said an executive at
one of the country's top corn processing firms on Wednesday, as
firms ramp up processing capacity to use up the grain.
China National Cereals, Oils and Foodstuffs Corp (COFCO)
will boost its annual corn processing capacity to more than 10
million tonnes by 2020 from 6 million tonnes currently, said
Tong Yi, general manager of COFCO Biochemical, on the sidelines
of a conference.
China's total corn processing capacity will hit 70 million
tonnes by the end of 2018, up from more than 50 million tonnes
currently, he added.
(Reporting by Hallie Gu; Writing by Dominique Patton; Editing
by Christian Schmollinger)