The explosive growth seen in China’s grain demand this year has not been caused by just a temporary supply shortage but signals a structural change in domestic consumption levels, US Grains Council (USGC) China director Bryan Lohmar said in an interview with S&P Global Platts.
China’s corn imports hit 7.8 million mt between January and October, a sharp 1,151% increase from last year, latest data from China customs showed. China’s import volumes are already above the set annual tariff rate quota level of 7.2 million mt, breaching the quota for the first time.
Similarly, China’s wheat imports have hit 6.69 million mt in January-October, up 127% year on year, while barley imports during the same period rose 98.3% on the year to 6 million mt, customs data showed.
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