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

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

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