Severe flooding across southern China has forced the world’s largest power plant to slash capacity on Tuesday, delayed grain on barges and damaged farms along the Yangtze River, as the death toll rose to 56 and economic costs hit almost $4 billion. More than 750,000 hectares of crops have been damaged and direct economic losses totaled more than 25.3 billion yuan ($3.72 billion), it said…Full Article: The Global Times July 2017
- In early July 2017, according to the China National Grain and Oils Information Center, corn spot prices in Changsha (Hunan Province), Nanchang (Jiangxi Province), and Wuhan (Hubei Province) have increased CNY 30 [~USD 4.65] to CNY 1,800 [~USD 279] per MT due to flooding. Within China, corn from northern China is typically shipped to ports in southern China. Once in southern China, the corn is transported in barges along the Yangtze River to the inland provinces of Hunan, Hubei, and Sichuan. Due to high water levels on the Yangtze River, barge shipments have slowed causing prices to spike.
- During late June 2017, Hunan Province, known for its hog and freshwater fish production, suffered from heavy rains.
- In July 2016, an estimated 1.5 million hectares of crops were damaged in China by flooding.
- From mid-June to early July 2016, flooding caused Anhui Province to lose ~80,000 hogs and more than 12 million heads of poultry (e.g. chickens and ducks), while Hubei Province lost ~80,000 hogs and ~3.6 million heads of poultry. In addition, Jiangxi Province lost ~5.2 million head of poultry.
- In July 2015, in Guangdong province, heavy rainfall affected more than 233,000 people and caused CNY 122 million (~US$19.6 million) in damages.
- In March 2015, western Heilongjiang Province was suffering a severe spring drought, while its southern and eastern regions suffered from (as of March 2015) flooding.
- The Yangtze River, aptly named the “The Long River” in Chinese, is Asia’s longest river and the 3rd largest overall after the Nile and Amazon rivers. The Yangtze River basin is comparatively well irrigated and contributes nearly 1/2 of China’s crop production, including more than 2/3 of the total volume of rice.
Hong Kong Trends