中國(guó)放棄玉米價(jià)格支持政策

The Chinese government could face paper losses ofmore than $10bn on its state-owned corn reservesas it shakes up its agricultural support policy.

隨著中國(guó)政府調(diào)整農(nóng)業(yè)支持政策，其國(guó)有玉米儲(chǔ)備可能面臨逾100億美元的賬面損失。

Beijing last month announced that it would end itsprice support policy in an attempt to reduce itsmounting corn stockpile, starting with the upcomingharvest this year.

北京方面上月宣布，將從今年收獲季開(kāi)始結(jié)束價(jià)格支持政策，此舉旨在削減日益增加的玉米庫(kù)存。

“The government has now abandoned price support policies for all commodities except wheatand rice,” confirmed the Beijing bureau of the US Department Agriculture in a report releasedon Thursday.

在周四發(fā)布的一份報(bào)告中，美國(guó)農(nóng)業(yè)部(USDA)北京農(nóng)業(yè)事務(wù)處證實(shí)：“中國(guó)政府現(xiàn)已放棄了除小麥和大米以外所有大宗商品的價(jià)格支持政策。”

The Chinese government’s announcement led to a 10 per cent fall in the new crop corn pricetraded on the Dalian Commodity Exchange, said the USDA report.

美國(guó)農(nóng)業(yè)部的報(bào)告稱，中國(guó)政府的聲明導(dǎo)致在大連商品交易所(Dalian Commodity exchange)交易的新玉米價(jià)格下跌了10%。

“A Rmb600 per tonne write down on corn stocks would result in a paper loss of over $10bn,” itsaid, adding that the total cost was likely to be higher as the figure did not take into accountstorage costs.

它表示：“玉米庫(kù)存每噸減值600元人民幣將導(dǎo)致逾100億美元的賬面虧損。”報(bào)告補(bǔ)充稱，總成本可能更高，因?yàn)樵摂?shù)據(jù)沒(méi)有考慮倉(cāng)儲(chǔ)成本。

“Some corn stocks may have lost their entire value as they are too deteriorated to sell,” it said.

它表示：“一些玉米庫(kù)存可能喪失全部?jī)r(jià)值，因?yàn)樗鼈冏冑|(zhì)得太厲害，根本賣(mài)不出去。”

Beijing’s agricultural support policy has led to mounting surpluses, while cheap imports havealso led to domestic corn being left unconsumed. Huge state inventories as well as fallingproductivity and environmental deterioration were forcing China to overhaul its policy, saidthe USDA.

中國(guó)的農(nóng)業(yè)支持政策導(dǎo)致玉米日益過(guò)剩，同時(shí)廉價(jià)進(jìn)口也導(dǎo)致國(guó)產(chǎn)玉米沒(méi)有被消費(fèi)掉。美國(guó)農(nóng)業(yè)部表示，龐大的政府庫(kù)存以及生產(chǎn)率不斷下降和環(huán)境惡化，正迫使中國(guó)調(diào)整其政策。

The report comes after international agricultural trade bosses this week said that China couldturn to exports to reduce its corn stocks.

該報(bào)告發(fā)布之前，國(guó)際農(nóng)產(chǎn)品貿(mào)易機(jī)構(gòu)的掌門(mén)人本周紛紛表示，中國(guó)可能轉(zhuǎn)向出口以削減其玉米庫(kù)存。

The head of Cargill’s grain trading said earlier this week at the FT Commodities Global Summitthat there was a “fifty-fifty” chance of China exporting some of its inventories.

嘉吉(Cargill)的谷物貿(mào)易主管本周早些時(shí)候在英國(guó)《金融時(shí)報(bào)》全球大宗商品峰會(huì)(FT Commodities GlobalSummit)上表示，中國(guó)有“五成”的可能性出口一部分庫(kù)存。

Gert-Jan van den Akker, president of Cargill’s agricultural supply chain, said: “[The Chinese]don’t need to export that through corn exports itself” — damaged corn could also be turnedinto industrial starch or ethanol before being sold, he added.

嘉吉農(nóng)業(yè)供應(yīng)鏈總裁格特-簡(jiǎn)•范登奧凱爾(Gert-Jan van den Akker)表示：“(中國(guó)人)不需要通過(guò)玉米本身出口而出口。”他補(bǔ)充稱，變質(zhì)玉米也可以先制成工業(yè)淀粉或者乙醇，然后再銷售。

“China has a huge starch industry,” he said.

他說(shuō)：“中國(guó)擁有龐大的淀粉工業(yè)。”

China would be breaching WTO rules by selling its subsidised corn overseas.

如果中國(guó)向海外銷售其接受補(bǔ)貼的玉米，將違反世貿(mào)組織(WTO)規(guī)則。

However, it could wait until this year’s harvest, which would not be supported by the state, toexport its corn, said another agricultural trader.

然而，另一位農(nóng)業(yè)貿(mào)易商表示，中國(guó)可以等到今年收獲之后再出口玉米，今年收獲的玉米價(jià)格將不會(huì)受到政府的支持。

The country is seen to hold about 100m tonnes of corn in its grain reserves. The last time thecountry exported significant amounts internationally was in the 2006-07 crop year, when it soldmore than 5m tonnes.

外界認(rèn)為中國(guó)的谷物儲(chǔ)備中有大約1億噸的玉米。上次中國(guó)大量出口是在2006-07作物年度，當(dāng)時(shí)它銷售了逾500萬(wàn)噸。

The USDA Beijing bureau forecast overall corn acreage to fall 3 per cent, although it addedthat the corn planting season had already begun.

美國(guó)農(nóng)業(yè)部北京農(nóng)業(yè)事務(wù)處預(yù)計(jì)中國(guó)整體玉米種植面積下降3%，不過(guò)它補(bǔ)充稱，玉米種植季已經(jīng)開(kāi)始。

“According to contacts in north-east China, most farmers have already made planting decisionsand cannot easily change plans based on the cancellation of the temporary reserveprogramme,” it added.

它接著說(shuō)道：“中國(guó)東北的消息人士稱，大多數(shù)農(nóng)民已經(jīng)做出了種植決定，不可能因?yàn)榕R時(shí)收儲(chǔ)項(xiàng)目取消而輕易改變計(jì)劃。”