Posted on November, 11, 2024 at 10:15 am
China’s grain imports plunged in September, with wheat down 57% and corn down 81% year-over-year, marking a second consecutive month of low imports. This decline contrasts with USDA projections of 12 million tonnes of wheat and 19 million tonnes of corn for 2024-25. Canadian wheat sales to China have also slowed, though other markets are expected to pick up demand due to supply issues in Russia, the EU, and Australia. Analysts suggest China’s reduced imports could stem from strong domestic harvests, economic concerns, or political manoeuvring amid US-China tensions. This year, China’s expected record grain output of 700 million tonnes may also contribute to the import dip.
Source: Shipping Matters