January 19, 2021

China's corn imports 152% up compared to previous year

China's General Administration of Customs data showed corn imports in 2021 was at 28.35 million tonnes, 152% higher than the 11.3 million tonnes imported in 2020, Reuters reported.

Wheat imports increased by 1.6% at 9.77 million tonnes in 2021, compared to 8.38 million in 2020.

Corn prices in China reached record highs last year after the country reduced its massive temporary corn stockpile and bad weather affected domestic output in 2020.

Buyers increased imports of corn and wheat to plug the domestic corn supply gap.

Imports declined in the later months of 2021 as a bigger corn crop lowered domestic prices and feed demand by the livestock industry was down due to tumbling swine margins.

Customs data showed China imported 1.33 million tonnes of corn in December 2021, 39.9% lower compared to December 2020.

-      Reuters