China increased corn processing capacity by 33m tonnes to 137m tonnes last year, according to Juhui Huang, China-based vice-president of Brazilian food company BRF.
China’s corn stocks at the end of 2017 dropped 28% year on year from record highs to 179m tonnes, he said, according to a Reuters report.
Malaysia’s palm oil stocks ended February at a four-month low of 2.38m tonnes, down 2.8% month on month, data from the Malaysian Palm Oil Board showed.
Exports fell by 13.3% month on month to 1.31m tonnes.
However production dropped too, by 15.4% month on month to 1.34m tonnes, in what is a seasonally weak period.
Activity in the South African agribusiness sector has returned to growth, according to a survey by Agbiz/IDC, which reported a confidence index of 58 for the first three months of 2018.
That represented an increase of 9 points on the previous quarter, taking the reading above the 50-point mark, a figure above which indicates expansion.
“About two-thirds of the responses were, however, received before the National Assembly adopted the motion on land expropriation without compensation, so it remains to be seen if this development will have an impact on agribusiness confidence,” Agbiz said.