Global Markets: Oilseeds – Chinese Peanut Imports Reach Record High
Published Aug 14, 2020
China is the world’s largest producer and consumer of peanuts. Prior to 2014/15, China’s domestic production was largely sufficient to meet steadily rising local demand. In the past 5 years, China has begun importing larger quantities of peanuts, mostly for crushing into meal for feed and oil for food use. While China’s 2019/20 imports are a record high, they will only represent 7 percent of its domestic consumption. China’s breakneck peanut imports are driven by slow domestic production growth and record-high global beginning stocks in 2019/20 that made imports more attractive. Chinese ...