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Since the beginning of this year, the global food market has been volatile, affected by multiple geopolitical factors, international food prices have fluctuated sharply, although the current has basically fallen back to the level before the escalation of the Russian-Ukrainian conflict, but still higher than the pre-epidemic level
.
With the rise in food prices, the order of food trade has been disrupted, and the cost of global food imports has been forced to rise
.
The cost of grain imports in China has increased
A few days ago, the customs released the latest import data, from the data analysis, under the two-way rise of the appreciation of the dollar and the depreciation of the RMB, China's grain import costs are increasing
this year.
From January to September, China's grain imports decreased by one-tenth (114.
743 million tons) compared with the same period last year, but the import amount has exceeded 400 billion yuan, which has exceeded the amount of grain imports in 2018, 2019 and 2020, and gradually approached the level
of 2021.
The average price of China's grain imports from January to September was 3626.
89 yuan / ton, an increase of 26.
5%
over the same period last year (2866.
12 yuan / ton).
Since 2019, the total amount of China's grain imports has been increasing, the average import price has also risen sharply, and the number of grain imports has also increased
simultaneously.
In 2022, under China's food security strategies such as "the rice bowl of Chinese must be firmly in their own hands at all times", "the main production area, the main sales area, and the production and marketing balance area should be served with the rice bowl and shoulder the responsibility together", and "stabilize corn and expand beans", the number of grain imports in 2022 has declined, and the current import volume accounts for 70% of 2021, but the import amount has reached nearly 90%
of the whole year of 2021.
Specific varieties:
Soybeans are an important variety imported by China, accounting for 60%
of the total grain imports.
From January to September, China imported 69.
04 million tons of soybeans, a decrease of 4.
93 million tons over the same period last year, and the average import price was as high as 4409.
8 yuan / ton, 900 yuan per ton higher than the same period last year, up 25.
8%
year-on-year.
Corn is the second most imported grain variety in recent years, and the cost of imports is increasing as the number of imports is increasing
.
From January to September, China imported 18.
46 million tons of corn, a quarter less than the same period, but the average import price was as high as 2205.
2 yuan / ton, breaking through 2000 yuan / ton, 400 yuan per ton higher than the same period last year (1801.
6 yuan / ton), up 22.
4%
year-on-year.
The trend of price reduction of China's wheat imports is also very obvious
.
From January to September, China's imported wheat decreased by 970,000 tons compared with the same period last year, and the average import price was as high as 2419.
4 yuan / ton, 414 yuan per ton higher than the same period last year (2004.
6 yuan
/ ton).
Rice, as an imported variety that improves the quality of China's surplus and improves its quality, is also one of the few varieties
whose import amount has become a downward trend.
From January to September, China imported 5.
05 million tons of rice, a year-on-year increase of 41.
1%, which has exceeded the annual rice import volume in 2021, and is expected to exceed the import quota
of 5.
32 million tons in October.
Global food import costs are soaring
At present, in the global food trading system, the continued strength of the dollar, rising interest rates, combined with historically low global cereal stocks and high food prices, a growing number of import-dependent countries are facing rising costs, and poor countries facing a food crisis are in a difficult situation
of unaffordability.
According to FAO economists, global food import bills will hit a record high
this year.
In Ghana in western Africa, where the country's currency, the cedi, has fallen 44 percent against the dollar this year, local importers are worried and have warned of food shortages
ahead of Christmas.
Egypt, the world's largest wheat importer, has about 700,000 tonnes of grain stranded in its ports
since the beginning of last month.
About 80 per cent of the country's mills have run out of wheat and stopped production, and private bakeries have raised the price of
bread.
In Bangladesh, the head of procurement at Meghna, its leading business group, also said that the cost of wheat imports has risen by at least 20 percent due to a stronger dollar, and the company may have to cut the amount of
wheat it plans to import before the outbreak of the Russia-Ukraine conflict.
Pakistan has been hit by floods this year and the government is taking steps to prevent foreign currency outflows, leading to containers of pulsed food piled up in ports last month and sending domestic prices soaring
.
;
; Since the beginning of this year, the global food market has been volatile, affected by multiple geopolitical factors, international food prices have fluctuated sharply, although the current has basically fallen back to the level before the escalation of the Russian-Ukrainian conflict, but still higher than the pre-epidemic level
.
With the rise in food prices, the order of food trade has been disrupted, and the cost of global food imports has been forced to rise
.
The cost of grain imports in China has increased
China's grain import costs have increased A few days ago, the customs released the latest import data, from the data analysis, under the two-way rise of the appreciation of the dollar and the depreciation of the RMB, China's grain import costs are increasing
this year.
From January to September, China's grain imports decreased by one-tenth (114.
743 million tons) compared with the same period last year, but the import amount has exceeded 400 billion yuan, which has exceeded the amount of grain imports in 2018, 2019 and 2020, and gradually approached the level
of 2021.
The average price of China's grain imports from January to September was 3626.
89 yuan / ton, an increase of 26.
5%
over the same period last year (2866.
12 yuan / ton).
5%.
Since 2019, the total amount of China's grain imports has been increasing, the average import price has also risen sharply, and the number of grain imports has also increased
simultaneously.
In 2022, under China's food security strategies such as "the rice bowl of Chinese must be firmly in their own hands at all times", "the main production area, the main sales area, and the production and marketing balance area should be served with the rice bowl and shoulder the responsibility together", and "stabilize corn and expand beans", the number of grain imports in 2022 has declined, and the current import volume accounts for 70% of 2021, but the import amount has reached nearly 90%
of the whole year of 2021.
Specific varieties:
Specific varieties: Soybeans are an important variety imported by China, accounting for 60%
of the total grain imports.
From January to September, China imported 69.
04 million tons of soybeans, a decrease of 4.
93 million tons over the same period last year, and the average import price was as high as 4409.
8 yuan / ton, 900 yuan per ton higher than the same period last year, up 25.
8%
year-on-year.
8%
year-on-year.
Corn is the second most imported grain variety in recent years, and the cost of imports is increasing as the number of imports is increasing
.
From January to September, China imported 18.
46 million tons of corn, a quarter less than the same period, but the average import price was as high as 2205.
2 yuan / ton, breaking through 2000 yuan / ton, 400 yuan per ton higher than the same period last year (1801.
6 yuan / ton), up 22.
4%
year-on-year.
4% year-on-year
The trend of price reduction of China's wheat imports is also very obvious
.
From January to September, China's imported wheat decreased by 970,000 tons compared with the same period last year, and the average import price was as high as 2419.
4 yuan / ton, 414 yuan per ton higher than the same period last year (2004.
6 yuan
/ ton).
higher.
Rice, as an imported variety that improves the quality of China's surplus and improves its quality, is also one of the few varieties
whose import amount has become a downward trend.
From January to September, China imported 5.
05 million tons of rice, a year-on-year increase of 41.
1%, which has exceeded the annual rice import volume in 2021, and is expected to exceed the import quota
of 5.
32 million tons in October.
Global food import costs are soaring
High global food import costs Global food import costs are high At present, in the global food trading system, the continued strength of the dollar, rising interest rates, combined with historically low global cereal stocks and high food prices, a growing number of import-dependent countries are facing rising costs, and poor countries facing a food crisis are in a difficult situation
of unaffordability.
According to FAO economists, global food import bills will hit a record high
this year.
this year.
In Ghana in western Africa, where the country's currency, the cedi, has fallen 44 percent against the dollar this year, local importers are worried and have warned of food shortages
ahead of Christmas.
Egypt, the world's largest wheat importer, has about 700,000 tonnes of grain stranded in its ports
since the beginning of last month.
About 80 per cent of the country's mills have run out of wheat and stopped production, and private bakeries have raised the price of
bread.
In Bangladesh, the head of procurement at Meghna, its leading business group, also said that the cost of wheat imports has risen by at least 20 percent due to a stronger dollar, and the company may have to cut the amount of
wheat it plans to import before the outbreak of the Russia-Ukraine conflict.
Pakistan has been hit by floods this year and the government is taking steps to prevent foreign currency outflows, leading to containers of pulsed food piled up in ports last month and sending domestic prices soaring
.
