Tuesday, June 6, 2017

China Ag Imports Boom--Except for Corn

China's agricultural imports during the first four months of 2017 totaled $39.8 billion, up 17.2 percent from the same period last year, according to data issued by China's Ministry of Agriculture. Agricultural exports were $22.3, billion, up 2.3 percent.

Imports of most items grew at a robust pace, but corn imports were down 82 percent from a year ago, as China focuses on de-stocking its domestic inventory of corn. Sorghum imports were down nearly 20 percent, and imports of distillers grains--hit with antidumping duties this year--are down 77.8 percent. Cassava imports were steady and barley imports were up 170 percent.

China's wheat imports rose 94.1 percent from a year earlier due to tight supplies of good quality wheat in China. Tight supplies of good quality cotton also pushed cotton imports up 43.2 percent from last year.

Soybean imports were up 18 percent. Rapeseed imports rose 41 percent, as imports filled a gap left by lower sales of depleted rapeseed oil reserves.

January-April China Agricultural Imports
Commodity Imports Change from year ago
1000 metric tons Percent
Wheat 1,685 94.1
Rice 1,339 -0.6
Corn 310 -82.8
Sorghum 2,368 -19.9
DDGS 246 -77.8
Barley 3,269 170
Cassava 3,038 -2
Cotton 570 43.2
Cotton yarn 671 6.1
Sugar 1,087 30.9
Soybeans 27,537 18.0
Rapeseed 1,704 41.1
Palm oil 1,676 16.9
Rapeseed oil 335 -0.3
Sunflower oil 224 23.6
Soybean oil 145 13.8
Pork  453 11.8
Pork offal 433 6.6
Beef 216 16.6
Lamb 99 8.1
Milk powder 400 3.6

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