Imports of grain and oilseeds by China are reaching a record
Wheat
Published Mar 27, 2024
Tridge summary
China is set to ramp up its trade activities starting April, with expectations for total imports this year to mirror those of the previous year. The country plans to continue importing high-quality food wheat from the US, Canada, and Australia to mix with its own lower quality grain, which has been impacted by adverse weather conditions. In the early months of 2024, China saw a 16% increase in corn imports and a near tripling of barley imports, reflecting a broader trend of rising agricultural product imports, which hit $234 billion last year due to lower global prices and domestic production shortfalls.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
As Reuters reports, lower world prices and a shortage of domestic production are prompting the Celestial Empire to purchase. Market operators expect China's trade activity to pick up from April and the country's total imports this year to be similar to last year. China is forecast to continue buying high-quality food wheat from the US, Canada and Australia to mix with its own grain, which is expected to be of poor quality due to adverse weather conditions. In the first two months of 2024, China imported 6.19 million tons of corn, which is 16% ...
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