Grain Consumption in October

By CnAgri2012-11-30 11:17:29 Print     Taking into account of rice production, flour production, feed production, grains used as seeds, waste, exports and grain consumption for industrial uses, China’s grain consumption was 55.104 million MT in October, 0.01% more than the same period of last year. Grain consumption totaled 470 million MT in January ~ October.
 
    Meat production was estimated to be 6.648 million MT in October and 63.93 million MT in January ~ October, up 4.53% and 1.43% respectively on the year-on-year basis. Feed consumption was 22.27 million MT in October, down 1% from the month before. Deducting grain by-products, 16.7 million MT grains were consumed for feed production. Feed consumption totaled 195 million MT in January ~ October, up 1.99% on the year-on-year basis. Deducting 50.3 million MT grain by-products, 145 million MT grains were consumed for feed production in January ~ October, up 1.77% on the year-on-year basis.
 
    3.342 million MT grains were consumed for alcohol production in October, down 6.81% from the month before and down 7.25% on the year-on-year basis. 34.946 million MT grains were consumed for alcohol production in January ~ October, up 2.66% on the year-on-year basis.
 
    Grain consumption by grain deep-processing enterprises was subdued by low returns. 5.99 million MT grains were consumed in October and 62.627 million MT in January ~ October for industrial uses, down 4.72% but up 0.03% respectively on the year-on-year basis. 2.655 million MT grains were estimated to be consumed for the production of 1.78 million MT starch in October.
 
    Starch, ethanol and corn prices were RMB3,029/MT, RMB6,381/MT and RMB2,414/MT respectively in October, down 2.61%, 1.12% and 2.59% respectively from the month before, down 0.06%, down 9.97% but up 2.28% respectively on the year-on-year basis, adjusted for currency value change. Starch and ethanol production generated a profit of RMB184/MT and RMB56/MT respectively in October, representing a profit ratio of 6.07% and 0.88% respectively.
 
    Grain imports totaled 13.417 million MT in January ~ October, an increase of 245% on the year-on-year basis.
 
    Grain inventory was 477 million MT at the end of October, suggesting a stock/consumption index of 8.66, up 1.79 on the year-on-year basis, attributable huge grain imports.
 
    Grain inventory consisted of 183 million MT paddy, 177 million MT corn, 105.6 million MT wheat, 2.409 million MT barley and 8.387 million MT others in October. Paddy, corn and wheat inventory added up to 466 million MT in November, including 118.8 million MT state reserve, 271 million MT on-farm stock and 75.98 million MT commercial stock.
 
    In the 2012/2013 crop year, Grain production, imports and exports are estimated to be 577.9 million MT, 12 million MT and 1 million MT respectively. Domestic grain consumption is predicted to be 572 million MT in the crop year. Grain consumption for food use is expected to be stable but grain consumption for feed use and industrial uses may grow moderately. Year-end grain inventory is predicted to be 238 million MT, suggesting a safety index of 41.77%.


From “China Grains Market Weekly Report”