January 16, 2008
China's soy imports rises 9.2 percent, corn exports up 60 percent in 2007
China's corn exports was up 60 percent in 2007 while soy imports rose 9.2 percent according to preliminary figures from the General Administration of Customs of China.
Soy imports rose 9.2 percent to 30.8 million tonnes, reflecting high demand by crushers in the nation while soymeal imports fell close to 85 percent to 104,912 tonnes.
China's soy exports however, rose 20.4 percent to 460,000 tonnes as demand from neighbouring countries increased. Freight charges for South American and US soy, which have more than doubled over the past year, priced the grains out of reach from Asian importers like South Korea and Southeast-Asian countries, resulting in more turning to nearer countries such as China and India for supplies.
Falling soy and rapeseed production in China have resulted in fewer supplies for domestic consumption. At the same time, rising affluence and greater health consciousness have prompted more Chinese consumption of vegetable oils for cooking, resulting in sharply higher imports of these oils.
Soy oil imports rose 83 percent to 2.8 million tonnes while rapeseed oil saw the most dramatic increase, rising 752 percent to 374,776 tonnes.
Subsequently, soyoil exports fell 44 percent to 65,717 tonnes in 2007.
China's corn imports fell 46 percent to 35,429 tonnes while exports rose nearly 60 percent to 4.9 million tonnes despite fears that the rapid development in the corn processing industry would endanger corn levels in China. China launched a crackdown on the illegal corn processing industry last year and directed alternative fuel production to non-corn sources like cassava, avoiding the drain on corn supplies for ethanol production experienced in other countries.
Exports for soy and corn are likely to be curtailed this year as the government lifted export rebates and imposed taxes on grain exports to curb rising inflation.
Fishmeal imports for the year fell 1.3 percent to 970,000 tonnes while wheat imports fell 83.6 percent to 100,000 tonnes.
A detailed breakdown will be issued later this month.
China grain imports and exports ( preliminary figures)
|
Grain |
Tonnes |
Percent change from 2006 |
|
Soy import |
30,820,000 |
9.2 |
|
Soyoil import |
2,820,000 |
83 |
|
Soy meal import |
104,912 |
-84.4 |
|
Corn import |
35,429 |
-45.8 |
|
Corn export |
4,920,000 |
58.7 |
|
Soy export |
460,000 |
20.4 |
|
Soy oil export |
65,717 |
-44.2 |
|
Rapeseed oil import |
374,776 |
751.9 |
|
Fishmeal import |
970,000 |
-1.3 |
|
Wheat import |
100,000 |
-83.6 |
|
Barley import |
910,000 |
-57.1 |
|
Palmoil import |
4,390,000 |
4.8 |
Source: General Administration of Customs of China
