Farm Product Imports & Exports from January to June in China

By CnAgri2012-08-08 11:17:57 Print

China’s farm product imports and exports valued $9.49 billion and $5 billion respectively in June, up 32.5% and 7.5% respectively on the year-on-year basis. Farm product foreign trade incurred a deficit of $4.49 billion in June, up 77.8% on the year-on-year basis. Farm product import value accounted for 6.4% of the nation’s total import value in June and the export value 2.8% of the total export value, up 1.3% but down 0.1% respectively on the year-on-year basis.

In the first half of this year, farm product imports and exports valued $54.11 billion and $29.55 billion respectively, up 28.7% and 7.5% respectively on the year-on-year basis. Farm product foreign trader incurred a deficit of $24.56 billion in January ~ June, up 77.8% on the year-on-year basis.

Grain (including soybeans and tuber crops) import volume and value registered 7.42 million MT and $3.92 billion in June, up 38.4% and 38% respectively on the year-on-year basis.

Grain (including soybeans and tuber crops) import volume and value 40.85 million MT and $19.95 billion in January ~ June, up 41.2% and 29.5% respectively on the year-on-year basis.

Grain import price averaged $528/MT in June, parallel to the same period of last year. Grain import price averaged $488.4/MT in January ~ June, down 8.3% on the year-on-year basis. It was the low price rather than demand that spurred grain imports in the first half of this year. BOABC predicts falling grain imports in the second half of this year because of grain price hike.

Grain imports in June consisted of 1.13 million MT grains and flour, 5.62 million MT soybeans and 670,000 MT others, up 85%, 16% and 42% respectively on the year-on-year basis. They were brought in at $340/MT, $589/MT and $347/MT respectively.

The imports of grains, soybeans and others registered 7.34 million MT, 29.05 million MT and 4.46 million MT respectively in January ~ June, up 284%, 23% and 35% respectively on the year-on-year basis.

From "China Grains Market Weekly Report"