Volga Baikal AGRO NEWS Update on the Chinese & World Grain Market !!!
Country Focus: China plays critical role in grains market.
China plays an enormous role in the world grains market, with a large population that is increasing in affluence. Its huge pig meat sector has been disrupted by African swine fever and then reformed in the aftermath of the disease, pushing feed demand higher.
In its Nov. 18 Grain Market Report, the International Grains Council (IGC) put China’s total grains production at 417.7 million tons in 2021-22, compared with 403.2 million in 2020-21.
The IGC puts the wheat crop at 137.1 million tons, up from 134.3 million the year before, while corn production is put at 272.8 million tons, up from 260.7 million. The IGC puts the 2021-22 barley crop at just 800,000 tons, down from 900,000 and puts sorghum output at 3.2 million tons, down from 3.3 million. Rice production in 2021-22 is put at 150.4 million tons, up from 148.3 million in 2020-21.
The IGC forecasts China’s total grains imports (not including rice) at 49.8 million tons in 2021-22, revised up from the previous month’s forecast of 49 million, and down from 60.8 million the year before. Wheat imports in 2021-22 are put at 10.5 million tons, down from 10.8 million in 2020-21. Corn imports are now predicted at 16.5 million tons, a figure the IGC revised up from its previous month’s estimate of 16 million, but well down on the 29 million imported in 2020-21. Imports of barley in 2021-22 are put at 12.5 million tons, revised up from 12.2 million and also up on the previous year’s 12 million.
Source: World Grain.com
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