Corn imports by China, the world’s second-biggest consumer, jumped in December as shipments from Ukraine surged from the previous month. Total purchases more than doubled from November to 607,323metric tons, of which 393,924 tons were from the eastern European country, according to data released by the General Administration of Customs on Friday [23 January 2015]. “Ukraine may use the exports to China as payments for loans,” said Cherry Zhang, an analyst at Shanghai JC Intelligence Co…Full Article: China Daily Jan 2015

Key Point

  • In 2014, China imported 2.6 million MTs of corn and approximately 3 million MTs of wheat. Both figures were lower than those recorded in 2013 owing to a ban on certain types of GM corn and China’s sizeable wheat harvest.

ChinaAg Comment

  • From 2009 to 2012, Chinese (incl. Hong Kong & Macau) imports of US corn increased from just over 32,700 MTs to 5.1 million MTs. Equally as impressive was that the US’s share of China’s import market jumped from 29% in 2009 to 98% in 2012 – a near monopoly on China’s corn purchases. However, the following year saw Chinese demand cool as government-supported corn stockpiles started to overflow, with inventories hitting an estimated 63.3 million MTs, a ten year high. China also wanted to diversify its supply base, in order to move away from its reliance on the US, granting export approval to Brazil, Argentina and Ukraine. As a result, Chinese imports dropped to 3.2 million MTs, while US import market share shrank slightly to 91% (2.9 million MTs).

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