Understanding food and commodity prices in China is as complex and multifaceted as it is critical for a company’s bottom line. Retail prices, often simply stated on a supermarket shelf or negotiated in an outdoor market, mask the numerous values that were tagged to an agricultural good during its journey from farm to fork. ChinaAg is able to sift through the supply chain maze to document farmgate prices, wholesale prices, and shipping prices (e.g. FOB, CIF) for any agricultural good.
Case Studies - Corn, Soybeans, and Wheat Prices
Corn, Soybeans, & Wheat Prices (China)
Domestic Corn Prices by Province (Avg. from June 2017 to Aug 2018)
Domestic Soybean Prices by Province (Avg. from June 2017 to Aug 2018)
Domestic Wheat Prices by Province (Avg. from June 2017 to Aug 2018)
Mainland China's Import Tariffs
Mainland China imposes import tariffs on a wide variety of agricultural goods. The majority of these tariffs come in the form of an ad valorem tax, or a tax that is based on the percentage value of the imported good. For example, a 25% ad valorem tax on US$100 worth of goods equates to a US$25 import tariff. However, some imported agricultural goods (such as frozen chicken) are taxed based on a specific duty rate, or a rate that is based on volume (e.g. US$0.10 per kilogram). As a WTO member, China imposes “most favored nation” (MFN) rates on its fellow WTO members. MFN rates are the highest possible rate China can impose on WTO member states and are listed below.
Please note that mainland China has signed Free Trade Agreements with ASEAN member states, Pakistan, Chile, New Zealand, Australia, Singapore, Peru, Maldives, Georgia, Hong Kong, Macau, Costa Rica, Iceland, Switzerland, and South Korea. Consequently, these countries generally qualify for import tariffs that are lower than MFN rates. Lastly, China also imposes lower import tariffs for “Least developed countries”.
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