China Farm Products Imports & Exports and Agricultural Investment in Oct.

By CnAgri2013-12-13 09:21:05 Print

According to the Customs, both import and export of China farm products increased YOY in Oct. 2013. The trade deficit’ account in total import value and agricultural investment declined. Grain import value continued increasing.

According to the customs, China’s farm product imports and exports valued $8.91billion and $5.65 billion respectively in Oct.. Farm products imports ranked third after fossil oil and mineral products imports.  Trade deficit of farm products was $3.26 billion(20.014 billion yuan), down 2.69% YOY, accounting for 1.8% of total export value  and 21.73% of agricultural investment in October.

As for agricultural investment, it was 92.1 billion yuan in October, down 0.75% YOY, far lower than the average growth rate of all investments,19.24%. Agricultural investment accounted for 2.17% of fixed asset investment nationwide. Low level of investment no doubt restricts sustainable development of China agriculture and thereby restricts China economy development.

As for agricultural investment structure, 41.273 billion yuan is invested in farming industry, accounting for 35.29% of total agricultural investment; 33.926 billion yuan in livestock industry, 28.94% and agricultural service industry, 25.115 billion yuan, 21.34%, increasing 23.03%, 38.51% and 23.99% respectively on the year-on-year basis. Investment proportion in forestry and fishing industry is both below 15%, increasing 15.49% and 20.27% respectively on the year-on-year basis.

Of the total imports in October, grains, tuber crops and soybeans totaled 6.91 million MT, valuing $3.47 billion, the former up 23.4% and the latter up 23.4% on the year-on-year basis. Grain import price was USD525/MT in October, down 5.6% YOY and down 5.9% MOM.

For different varieties, China imported 2.09 million MT grains and flours, 4.19 million MT soybeans and 630,000 MT others, up 87%, 4.0% and 40.0% respectively on the year-on-year basis. The average import prices of grains and flours, soybeans and other kinds of grains were $334/MT, $606/MT and $319/MT respectively. Among other grains, dry cassava imports reached 423,000MT and price was USD252/MT. 

Besides, China veg oil imports were 540,000MT, valuing 498 million dollars with average price of RMB922/MT in October, down 40.0%,51.89% and 19.81% respectively on the year-on-year basis. The import value accounted for 5.59% of total import value of agricultural products. Import value of soybean and veg oil totaled 3.07 billion dollars, accounting for 34.5%. Edible animal products imports were 547,000MT, valuing 1.51 billion dollars with average price of USD2767/MT, up 22.1%,53.1% and 25.4% respectively on the Year-on-year basis. The import value accounted for17.0% of total import value of agricultural products.

As for imports of other agricultural products, cotton imports were 141,000MT, valuing 310 million dollars, down 48.11% and 50.47% respectively on the year-on-year basis, with the latter accounting for 3.5% of total import value of agricultural products. Nuts and fruits imports registered 219,800MT, valuing 254 million dollars, up 18.1% and 16.77% respectively on the year-on-year basis, with the latter accounting for 2.9% of total import value of agricultural products.




From “China Grains Market Weekly Report”