Feb. 11 – China is to become corn global top importer, China corn purchases reached 7.82 million metric tons in 2020, and exceeds the WTO quota of 7.2 million, according to customs data. In December 2020, corn imports to China amounted to approximately 347 million U.S. dollars, according to statista accessed Feb 2, 2021.
China Corn Imports Exceeds WTO Corn Quota
China corn imports came to 7.82 million tons up to now, China surpassed for the first time ever an annual corn-import quota set by the World Trade Organization, as the second-largest economy continues to buy grain to feed a growing hog population. There are six different varieties of corn, sweet corn, popcorn, flour corn, dent corn, flint corn, and pod corn. Genetically modified varieties are found in the United States, Argentina, and Canada. China approves two GMO corn varieties for import, Bloomberg reported. Corn in China, used typically to produce a variety of products from livestock feed, ethanol, high-fructose corn syrup, corn starch, alcoholic beverages, deodorant, cough drops and more. If domestic supply is insufficient when demand is raising, imports is an opinion, especially lacking adequate resources and capacity, that’s exactly with the surge in China imports corn comes. Importers have brought in record volumes of grain to plug the shortage. China has exceeded its feed grain import quota, that serves to indicate there’s a direct excessive need there, the fact that “it doesn’t seem to be slowing down”, said Stephen Nicholson, a senior grain and oilseed analyst at Dutch Rabobank. China corn purchases reached 7.82 million metric tons in 2020, virtually two-fold a year ago and surpassing the WTO quota of 7.2 million, according to customs data.
Pig Feed and Corn Processing Industry Pick up in China
Chinese pig farms is picking up and pig feed is in demand. As China rebounds from the coronavirus pandemic, there is a growing strong China demand for the crop, more bigger specialized local Chinese pig farms are on road of recuperating, soybean meal and corn are made-up main ingredients for pig feed in China. That’s pushing up China corn demand climbs high and corn imports reaches a pinnacle. After Brazil and the United States, China is the third-largest fuel ethanol producer. Production of fuel ethanol and corn alcohol consumed 8.9 million tons of corn in China last year, accounting for 44.5 per cent of industrial consumption of corn. Demand from ethanol makers, sugar producers and feed factories, has exhausted some of the nation’s corn stocks. An ethanol producer claimed its employees had to go to over 100 grain depots in Northeast China for their supplies this year. The price of corn is affected by the ethanol market, crude oil prices, Chinese demand, the US Dollar, and climate. At this moment China exceeds WTO corn quota for first time, as demand reach the peak send domestic prices to an all-time high, a related market index of spot grain prices surged last week to the highest since 2014, and global grain prices are soaring as well as a result of robust Chinese high demand.
China Imports More Corn in 2020
In December 2020, corn imports to China amounted to approximately 347 million U.S. dollars. Since the beginning of calendar year 2020, China has already imported around 10 million tones of corn, far more than its current tariff rate quota of 7.2 million tones allows. There is a specific statistic shows China’s monthly corn imports from October 2019 to October 2020 referred by statista China imports more corn in recent month 2020. As the world’s most populous with a population of 1.42 billion, China’s unprecedented economic progress, have changed the country into a global purchasing house. Given the size of the market, China’s demand for foodstuff is impacting the global agricultural foodstuff industry. China is becoming a top corn importer in the world as a result of strong domestic demand from the animal feed and corn deep processing sector. China is importing corn mainly from the United States and Ukraine, with much smaller amounts coming from Bulgaria (part of the European Union) and Russia.
China’s Corn Imports Could Surge to 33 Million Tons in 2021
China’s corn imports could surge to 33 million tons in 2021, according to update market insiders. China needs to importing even more corn in 2021 than 2020, with larger pig farms recovering, pig feed and corn processing industry pick up in China, the country domestic corn supply is in discrepancy, grain corn China imports number is getting bigger and larger, as stated by related service data, China’s corn imports shipments could surge to 33 million tons in 2021, that’s a substantial amount corn flow to China in 2021, for global corn producers, growers, traders, and Chinese corn importers will be another hectic year, the country corn imports will climbs up to another pinnacle. China could become the world’s largest corn importer.
Chinese Corn Importers Busy than ever as China Corn Import Surge
With increasing grain corn shipments to China, Chinese corn importers busy than ever as China corn import surge in 2021, China as the world’s top commodity importer, market opportunities is huge. If you are engaged in corn agrarian business, especially grain corn producers and traders, there are the right chance for open new channels for growing your agrarian trade with China. It’s right time to discover China market opportunities with grain corn, and to pick up your share in a bigger corn pie. Chinese corn importers come to handy in time of need, those Chinese corn importers are the arms and legs of pig feed manufacturers and corn processing industry in China, those Chinese corn importers are the first step to bring your corn cross over the board, reach the China market, therefore connect with reliable Chinese importers of corn products are crucial. The List of Chinese Importers for Grain Corn is available upon request, for more information, please email to: email@example.com