China to work through 250 million ton corn stockpile in five years

In China, the government is planning to work through its 250 million metric ton corn stockpile over the next five years as companies such as COFCO Biochemical boost their processing capacity for products such as ethanol. The company expects to process 10 million tons per year by 2020, up from 6 million tons now, while national processing capacity will increased to 70 million tons by the end of 2018 from the current 50 million tons.