How To Turn A Deficit Into A Surplus In Ten Minutes

Posted by Nogger - a legend in his own mind at 11:00 | Categorized as

27/04/11 -- Sometimes it's the simplest ideas that are the best isn't it? China has just announced tough new measures to halt the increase in corn usage for "non-feed products" such as ethanol and starch.

They're going to start by cancelling tax breaks for corn processors to limit their expansion and ordering banks to stop lending to them.

In addition they say that they are going to "limit" corn starch projects with processing capacity of less than 300,000 MT/year and "eliminate" those projects with annual capacity of less than 100,000 MT.

These industries are estimated to use around 50 MMT of corn per annum, around a third of the nation's production.

America and Europe take note.