September 24, 2012
China ahead of US as largest importer of crops
China is now the biggest importer of agricultural products even as it increases its exports.
According to calculations by Bloomberg based on data released by the World Trade Organisation, imports, including food and beverages, rose 34% to US$144.7 billion in 2011 from US$108.3 billion in 2010.
Exports gained 25% to US$64.6 billion, beating Canada to become the sixth largest.
The country's rising population was highlighted as the reason for growth demand for soy, corn, feed livestock, powdered milk and sugar to make beverages.
Urbanisation widened China's water and land shortages, further fueling a global rally in crops amplified by drought-reduced supply.
