Meat

China’s Nov corn imports hit record for a month, despite huge local crop

Dec, 18, 2023 Posted by Gabriel Malheiros

Week 202346

China logged record corn imports of 3.59 million metric tons in November, customs data showed on Monday, adding to a record domestic crop and further pressuring prices in the world’s no.2 grower.

November corn imports surged 384% from a year ago, coinciding with a record domestic corn production of 288.84 million tons this year, following a government push to raise the output of the staple grains for food security purposes.

Chinese soybean imports reached 7.92 million tons in the eleventh month of the year, representing a 9.8% growth compared to the same period last year. From January to November, soybean imports amounted to 89.63 million tons, a 13.3% increase from the previous year.

The Chinese also imported 40,000 tons of soybean oil last month, marking a 36.8% decrease from the volume recorded in November of the previous year. However, year-to-date imports saw a 25.1% increase, reaching 350,000 tons.

Wheat imports in China totaled 660,000 tons last month, a volume 34.4% lower than the figure recorded in the same month in 2022. Over the first eleven months of this year, imports amounted to 11.49 million tons, representing a 29.4% increase compared to the same period last year.

In November 2023, China imported 310,000 tons of cotton, a 72.9% increase from the same period in 2022. However, year-to-date cotton imports were 1.69 million tons, reflecting a 4.1% decrease compared to the previous year.

Palm oil purchases by China reached 440,000 tons in November 2023, marking a 37.8% decrease from the volume imported a year earlier. Over the first eleven months, imports totaled 4.04 million tons, reflecting a 35.8% increase compared to the previous year.

China acquired 210,000 tons in the dairy sector in November, a 16.7% decrease from last year. Year-to-date imports amounted to 2.66 million tons, showing a 12% decline compared to the previous year.

Sugar imports in China reached 440,000 tons in November, a 40.3% decrease compared to the previous year. Over the 11 months of 2023, the volume decreased by 26.9%, reaching 3.48 million tons.

Fertilizer imports by China were 1.26 million tons, marking an 87.3% increase compared to November 2022. From January to November of this year, imports totaled 11.68 million tons, reflecting a 41.4% increase compared to last year.

Chinese beef imports totaled 240,000 tons in November 2023, a 5.8% decrease from the previous year. Over the 11 months, reported purchases amounted to 2.5 million tons, reflecting a 2% increase compared to 2022.

The chart below, developed with DataLiner data, shows Brazilian exports of beef to China between Jan 2019 and Oct 2023.

Beef exports to China | Jan 2019 – Oct 2023 | WTMT

Source: DataLiner (click here to request a demo)

The Chinese purchased 90,000 tons of pork in the eleventh month of the year, reflecting a 48.1% decrease compared to the previous year. From January to November, pork imports declined by 6.3%, totaling 1.46 million tons.

Source: BOL

Click here to read the original news report: https://www.bol.uol.com.br/noticias/2023/12/18/importacao-chinesa-de-milho-cresce-384-em-novembro-e-a-de-trigo-recua-344.htm

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