Analysis of China's agricultural product supply and demand situation in January 2021

Published Jan 13, 2021

Tridge summary

China's National Bureau of Statistics has reported changes in the agricultural sector for the 2020/21 season. Highlights include a slight decrease in corn sown area, stable yield, and a minor increase in output. Corn imports are projected to rise significantly due to high demand, while domestic soybean production and imports have seen increases, with global supplies tight and prices expected to remain high. Cotton purchases and sales have concluded, showing faster progress than previous years. Meanwhile, edible vegetable oil production and consumption are expected to increase, largely due to increased soybean imports. Sugar production and sales have experienced a decrease, with concerns about potential impacts on harvesting and seed retention due to cold weather. Overall, China's agricultural market is experiencing adjustments, with some sectors facing challenges like high international prices and weather impacts, while others are benefiting from increased domestic demand and production.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Corn: This month forecasts that in 2020/21, according to the announcement of the National Bureau of Statistics, the sown area of corn in China is 41.264 million hectares, a decrease of 0.05% from the previous year; the yield per hectare is 6317 kg, the same as the previous year; the output is 26.67 million tons, up Annual reduction of 0.04%. In view of the continuous expansion of domestic and foreign corn price gaps and the increasing demand for imported corn purchases by enterprises, China’s corn imports are adjusted to 10 million tons this month, which is an increase of 3 million tons from the previous month’s forecast and an increase from the previous year. 2.4 million tons. The recovery of pig production exceeded expectations, livestock and poultry breeding remained high, and the demand for feed grain continued to improve. This month, the corn feed consumption was adjusted to 185 million tons, an increase of 2 million tons from the previous month’s forecast. The annual ...

Source: Foodmate