China's Agriculture Ministry said on Aug. 11 that flooding caused by Typhoon Doksuri has affected corn-growing regions in the country's northeast. However, the current estimate for 2023/24 corn production remains unchanged at around 282,34 million tonnes, Reuters reported.
At the same time, two trading sources told the agency that some market participants are making losses on the corn harvest estimated at about 4-5 million tons or about 2% of China's grain production due to the floods.
It cannot be ruled out that the floods could also affect rice production in China. In this Zusammenhang told Fitch Ratings on Aug. 11 that the floods are likely to push up global rice prices, which have already risen more than 20% after India announced a white rice export ban.
Source: APKinform (Ukraine)