June 6, 2012

China's agricultural trade shortfall widens

The agricultural trade shortfall in China soared by 80% on-year from January-April 2012, showing the country's increasing dependence on food imports, China Daily reported.

During the first four months of 2012, the country's total agricultural trade volume jumped to US$54.7 billion, up 17.7% from the same period last year, according to data released by the Ministry of Agriculture on May 31. During this period, agricultural imports surged by 27.6% on-year to US$35.2 billion, while exports were up 3.3% from last year to US$19.5 billion, official data showed. This led to a deficit of US$15.7 billion.

According to the official statistics, imports of soy, corn, wheat, cotton and sugar saw steady increases compared with the same period last year. By contrast, more fruits and vegetables were exported than imported, official data showed, the newspaper reported.