Japan, the largest importer of corn sees the commodity price rising because of the concern over nuclear radiation, potentially helping meat
sales by Tyson Foods Inc. because of increasing expense@animal feed makers.
Nobuyuki Chino, President of the Tokyo-based grain company Continental Rice Corporation said, Importers need to pay 5 percent more compared to the west to ship Corn from U.S. gulf ports to eastern Japan because of concern vessels may be tainted by radiation leaking from the Fukushima Dai-Ichi power station.
In Chicago corn more than doubled in price over the past year, climbing to its highest prices since 2008, as global supply failed to keep pace with demand, according to the United Nation that has driven up world food cost by 36 percent through the month of April.