Tridge summary
In May, China experienced a notable shift in its agricultural imports, with corn imports seeing a significant increase of 66% from the previous month, albeit 20.2% lower than the same period last year. Despite this, the country's total corn imports from January to May 2023 decreased by 10.6% compared to the same period in the previous year. Wheat and barley imports surged in May compared to both the previous month and the same month in the previous year. On the other hand, sorghum imports experienced a considerable drop, and edible vegetable oil imports, including soybean and palm oil, also saw fluctuations. Overall, China's agricultural import dynamics in the first five months of 2023 show a mixed picture of increases and decreases across different commodities compared to the same period in the previous year.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
China's corn imports rose 66% month-on-month to 1.66 million tons in May, data from China's General Administration of Customs (GACC) showed. However, this was 20.2% below the level seen in the same month last year as China is expected to cancel shipments of US corn in the current 2022/23 marketing year. The total volume of corn imports in the first five months of 2023 reached 10.19 million tons, which is 10.6% less than the volume of imports for the same period last year. Meanwhile, wheat imports in May decreased by 31.6% compared to April to 1.15 million tons, but were 71.5% higher than in May 2022. From January to May this year, China imported 7.19 million tons of wheat, up 62.5% compared to the first five months of 2022. Barley imports, on the other hand, are up 28% from April to 1.28 Mt – 59.7% more than imports in May 2022, bringing total barley shipments to 3.97 Mt this year. , which is 19.3% more than in the same period last year. Sorghum imports in May were 660,000 tons, ...
Source: Oilworld
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