Tridge summary
In the 2022-2023 marketing year, China emerged as the world's leading wheat importer, with purchases totaling 12 million tons, marking the highest since 1995-96 with 12.5 million tons. This places China ahead of Turkey and the EU, which imported 10.5 million tonnes each, and Indonesia with 10 million tonnes. The USDA cited China's minimum support policy and COVID-19 policy uncertainties for the persistently high grain prices in the country, with wheat priced around $450 per ton and corn averaging over $400 per ton. In contrast, international wheat prices fell to below $400 per tonne due to substantial export contributions from Australia, the EU, and Canada.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
According to the United States Department of Agriculture (USDA), China was the world's largest importer of wheat in the 2022-2023 marketing year, buying 12 million tons, World-grain reports. This is the highest level of imports since 1995-96, when the country imported 12.5 million tons. The next largest importers were Turkey and the EU, both with 10.5 million tonnes, and Indonesia with 10 million tonnes. Grain prices in China remain high due to the country's minimum support policy and lower auction activity due to uncertainty about the government's policy on COVID-19. Last year, wheat prices remained at around $450 per ton, while corn prices averaged over ...
Source: Agrotimes
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