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China set to add fuel to commodities rally

Posted on 28 October 2010

From Indiatimes.com: China, wrongfooted by a blistering rally in corn, cotton and sugar markets , could be forced to replenish strategic reserves run down in a failed attempt to cool prices. Purchases by the world’s biggest consumer of cotton and the second-largest consumer of corn and sugar would provide fresh bullish momentum to prices already near record or multi-year peaks.
China, which buys around 60% of soybeans traded across the world, could be in the market to take more than 5 million tonnes of corn in 2011, according to some analysts, quadruple its buys this year and potentially making it the world’s fifth largest importer. The country is already the world’s No. 1 cotton importer……………………………………….Full Article: Source

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VRS - who has written 37015 posts on Opalesque Commodities Briefing.


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