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June 26, 2015

 

China's wheat imports to rise as rain affected local supplies
 

 

Wheat imports into China for the June 2015- May 2016 marketing year may reach close to three million tonnes, overtaking 2014's volume by double the amount.

 

A rise of 2 - 2.5 million tonnes is expected, an increase from 1.49 million tonnes seen in 2013, based on early estimates by China National Grain and Oils Information Centre (CNGOIC) and Shanghai JC Intelligence Co Ltd (JCI).

 

While analysts pointed out to rain-affected crop-producing regions, including Anhui, Jiangsu and Hubei, which would likely prompt more deliveries from overseas to compensate for supplies, local harvest could still manage an increase over last year. Crops, however, had degraded due to the rain in early June, hence, more inferior in quality compared to those in 2014.

 

Shandong and Hebei also saw affected crops due to a lack of sunlight during the growing period, JCI said.

 

Wheat imports had achieved their highest in more than a year in May as mills sped up deliveries due to the strained local supply.

 

Overall, China's wheat harvest could reach 127.7 million tonnes in 2015/16, a 2% growth according to Beijing Orient Agri-business Consultant Co.'s (BOABC) estimate.

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