Where does China buy wheat?

Published 2024년 4월 5일

Tridge summary

The FAS USDA's April forecast for China's 2024/25 wheat imports remains at 10 million tons, unchanged despite over 1.5 million tons of canceled orders. China's import quota is set at 9.64 million tons, a figure historically surpassed. Early 2024 saw China buying significant amounts of wheat from Australia due to lower prices, and for the first time, including Argentine companies in its wheat quarantine registration, indicating a diversification of wheat sources. COFCO's direct purchase of durum wheat from Canada highlights a strategic shift towards a broader variety of wheat imports. The report also mentions cancellations of wheat shipments from the US, Australia, and France, primarily due to price factors, amidst current global wheat price trends.

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

Original content

The April forecast of FAS USDA analysts for China's wheat imports in the 2024/25 season did not change compared to 2023/24, but was reduced by 1 million tons to 10 million tons due to China's cancellation of import orders in the amount of more than 1.5 million tons. On September 21, 2023, China set its wheat import quota for 2024 at 9.64 million tons, unchanged from previous years. However, China's wheat imports have exceeded quota for three years in a row. In the first two months of 2024, Chinese wheat importers purchased large quantities of Australian wheat due to its low price. As Chinese authorities continue to diversify the origins and suppliers of potential grains, the General Administration of China Customs (GACC) included Argentine companies in the wheat quarantine registration system for the first time in early 2024. China mainly imports prepared pasta or durum wheat flour. COFCO purchased durum wheat directly from Canada for the first time in late 2023. The company ...

Source: Zol