Chinese Corn Imports Surge by 16.1% in Combined January-February Period

Chinese imports of corn reached 6.19 million tonnes in January and February, a 16.1% increase from a year prior, according to data released on Monday, the 18th, by China’s General Administration of Customs (GACC). The amount spent on corn imports in the two-month period was $1.765 billion.

The following chart shows the volume of corn exports from Brazil to China in 2023.

Corn Exports to China | 2023 | WTMT

Source: DataLiner (click here to request a demo)

According to GACC, China imported 2.51 million tonnes of wheat in the first two months of the year, a 16.9% year-on-year decrease. During this period, the value of purchases totaled $803.6 million. Chinese soybean imports totaled 13.04 million tonnes (January and February 2024 combined), an 8.8% decrease from last year. In terms of value, soybean imports totaled $7.439 billion.

For vegetable oils, China imported 1.21 million tonnes in the first two months of 2024, a 12.4% decrease compared to last year. There was a decrease of 28.7% in monetary terms, totaling $1.195 billion.

China imported 650,000 tonnes of cotton in January and February, an 182.6% increase from the 230,000 tonnes imported in those same two months in 2023. The amount spent in the first bi-monthly period on cotton purchases was $1.327 billion.

Chinese palm oil purchases reached 390,000 tonnes in January and February, a 37.1% decrease from a year earlier. The value of imports amounted to $339 million this year.

Regarding dairy products, China imported 440,000 tonnes, 12% less than the same period last year. In terms of value, imports reached $1.729 billion.

Chinese sugar imports totaled 1.19 million tonnes in January and February, a 48.75% increase compared to the previous year. The amount spent by China was $726.7 million.

The following chart shows the volume of sugar exports from Brazil to China in 2023.

Sugar Exports to China | 2023 | WTMT

Source: DataLiner (click here to request a demo)

In the first two months, China’s fertilizer purchases amounted to 2.86 million tonnes, a 62% increase from January and February 2023, according to GACC. The value of imports was $960 million.

Chinese beef imports totaled 530,000 tons in January and February, a 26.2% increase from last year. In terms of value, China’s purchases stood at $2.5 billion. As for pork, the Chinese imported 160,000 tonnes in the first two months, a 58% decrease compared to 2023. Product imports during the period amounted to $329.7 million.

Source: UOL

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