China's corn output reaches record levels

China’s corn output increased 6.7% this year as farmers planted more of the crop to meet rising demand for feed from the domestic meat and dairy industries, Bloomberg reported. Output rose to 189.18 million metric tons from 177.24 million in the previous year, a survey of the seven largest corn-growing provinces by Geneva-based SGS SA showed. That estimate was higher than the 182 million tons forecast by the US Department of Agriculture in October 12. Farmers may boost acreage another 4.6% in 2012, the SGS said, since corn is now more profitable than other crops. Today, slightly less than half of China’s population is involved in agriculture, down from more than 70% one decade ago, Fang Yan, deputy director at the National Development and Reform Commission, said earlier this week.