Last year, China’s increase in grain imports reached the record for the largest increase in commodity imports, reflecting the increase in demand and the abundance of liquidity. Analysts said that these two factors may lead to further increase in imports this year.
Driven by the surge in corn exports to the United States, China’s grain imports in 2010 have increased significantly. At this time, the increase in large-scale farms and the change in the dietary structure have caused Beijing’s grain self-sufficiency policy to be discounted.
According to data from the General Administration of Customs on Friday, China imported 1.57 million tons of corn last year, which was 19 times the previous year. The semi-official data released earlier this week was confirmed.
Estimates from private and exporters show that China may import 1 million to 2 million tons of corn this year. In contrast, corn imports in 2008 and 2009 were only 49,000 tons and 83,000 tons, respectively.
Stephen Green, an economist at Standard Chartered, also gave an explanation that China's grain productivity growth may slow in the coming years, making corn an "obvious candidate" for increased imports.
Vice Minister of Agriculture Wei Chaoan said last month that demand was even higher in 2011 because of the increase in large-scale pig farms built to meet China’s growing demand for meat.
According to data from the General Administration of Customs, the wheat imports in 2010 were 1.2 million tons, which was also higher than the previous year, an increase of 36%.
An informed source said on Thursday that Chinese buyers headed by COFCO, a state-owned food trader, have purchased four ships of feed wheat, about 200,000 tons.
The source said that all major wheat exporters in Australia have participated in negotiations with Chinese buyers.
The continuous increase in grain imports is driven by the still relaxed credit environment. At the end of the year, the inflation rate reached a new high in three years.
Alistair Thornton, an analyst at IHS Global Insight, an economic consulting firm, said that the flood of liquidity over the past year has barely subsided. Although the level of consumer prices fell slightly in December, the demand side of inflation remained unchanged.
Data from the General Administration of Customs on Friday showed that last year's soybean imports reached an unprecedented 54.8 million tons.
Rice is arguably the most protected grain in China, but its imports in 2010 also increased to 366,171 tons, which is close to 29,000 tons more than in the previous year. According to Chinese media reports, official data did not take into account the smuggling of rice shipped to China via the southern border.
Imports of cotton have also increased significantly, reaching 2.8 million tons in 2010, nearly double that in 2009. Sugar imports increased by 66% in 2010.
Driven by the surge in corn exports to the United States, China’s grain imports in 2010 have increased significantly. At this time, the increase in large-scale farms and the change in the dietary structure have caused Beijing’s grain self-sufficiency policy to be discounted.
According to data from the General Administration of Customs on Friday, China imported 1.57 million tons of corn last year, which was 19 times the previous year. The semi-official data released earlier this week was confirmed.
Estimates from private and exporters show that China may import 1 million to 2 million tons of corn this year. In contrast, corn imports in 2008 and 2009 were only 49,000 tons and 83,000 tons, respectively.
Stephen Green, an economist at Standard Chartered, also gave an explanation that China's grain productivity growth may slow in the coming years, making corn an "obvious candidate" for increased imports.
Vice Minister of Agriculture Wei Chaoan said last month that demand was even higher in 2011 because of the increase in large-scale pig farms built to meet China’s growing demand for meat.
According to data from the General Administration of Customs, the wheat imports in 2010 were 1.2 million tons, which was also higher than the previous year, an increase of 36%.
An informed source said on Thursday that Chinese buyers headed by COFCO, a state-owned food trader, have purchased four ships of feed wheat, about 200,000 tons.
The source said that all major wheat exporters in Australia have participated in negotiations with Chinese buyers.
The continuous increase in grain imports is driven by the still relaxed credit environment. At the end of the year, the inflation rate reached a new high in three years.
Alistair Thornton, an analyst at IHS Global Insight, an economic consulting firm, said that the flood of liquidity over the past year has barely subsided. Although the level of consumer prices fell slightly in December, the demand side of inflation remained unchanged.
Data from the General Administration of Customs on Friday showed that last year's soybean imports reached an unprecedented 54.8 million tons.
Rice is arguably the most protected grain in China, but its imports in 2010 also increased to 366,171 tons, which is close to 29,000 tons more than in the previous year. According to Chinese media reports, official data did not take into account the smuggling of rice shipped to China via the southern border.
Imports of cotton have also increased significantly, reaching 2.8 million tons in 2010, nearly double that in 2009. Sugar imports increased by 66% in 2010.
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