China trade deficit in agricultural products up 14-fold due to export restrictions

China's trade deficit of US$7.57 billion for the first five months this year in agricultural products is a 14-fold increase from the same period last year, the state press said Sunday (July 13, 2008).

According to the agriculture ministry, agricultural imports from January to May reached US$23.75 billion, up 59 percent from last year, said Xinhua news agency.

In addition to being the world's largest soy oil importer, China imports other edible oils such as rapeseed and palm oil. The nation also imports large volumes of meats such as pork and poultry products, and grains like wheat and corn.

Grain exports fell 76 percent to 1.19 million tonnes, and imports of cereals rose 14 percent to 911,000 tonnes, Xinhua said.

Moreover, US$3.28 billion of animal by-products were imported between January and May, a rise of 36 percent. Meanwhile, US$1.64 billion of meats and by-products were exported, up by 10 percent  from the same period last year.

China imported 3.58 million tonnes of edible oils during the first five months of the year, up 11.2 percent  over last year.