Corn cultivation in Não-Me-Toque (RS)
BEIJING (Reuters) – Chinese corn imports in 2021 nearly tripled in volume from a year earlier, hitting a new record, customs data showed on Tuesday, as buyers turned to cheaper international alternatives as prices soared. and a tightening of domestic supply.
China, the world’s top grain market, imported 28.35 million tonnes of corn in all of 2021, up 152% from a record 11.3 million in 2020, showed. data from the General Customs Administration.
Wheat imports in the first 12 months of the year also hit a record at 9.77 million tonnes, up 16.6% from 8.38 million in 2020, the data points out.
The price of corn reached a record high in 2021 after Beijing reduced its huge temporary stockpile of the grain and bad weather affected production in the main producing region the previous year.
Buyers intensified imports of grains such as corn and wheat to bridge the domestic gap in corn supply.
Chinese appetite for imported grains showed signs of waning in the final months of the year, with a larger crop pushing domestic prices down, while livestock feed demand weakened as the margin of pork production fell.
Corn imports in December were at 1.33 million tonnes, down 39.9% from a year earlier, according to the data.
(Reporting by Hallie Gu and Dominique Patton)
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