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China’s 2013/14 wheat import may reach its highest point in recent two decades

Date:11-22-2013 Number of visits:798 Font size:T|T
The latest data of China National Grain and Oil Information Center (CNGOIC) shows that China’s wheat import for 2013/14 may reach 8 million tons and make its highest point in recent two decades, due to the influence of severe weather on domestic output.
CNGOIC has upgraded its estimated data of wheat import from previous 7.5 millions to 8 million tons, which is the highest point since 1995 when the import amount was 12.5 million tons. 
In October, American wheat future price rose and made its highest point in recent five months. The main reason is that China’and Brazil’s wheat had a crop failure and the import demand increased.
This year, China’s main wheat producing area had severe weathers and local wheat crops suffered a lot; as much as 20 million tons of wheat was not edible, which was around 16% pf total output.
CNGOIC expresses that this year China may import 4.3 million tons of wheat from USA, because American soft red winter wheat has a lower price. China may import more than 2 million tons of wheat from Australia and import an amount of limited increase from Canada as Canadian wheat price rises.
The organization also expresses that high quality wheat import may increase as local high quality wheat has a drop in output.
It also says that China has ordered a total amount of 4.5 million tons of wheat from USA and Australia.

(Editor: HBA)

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