China's rice, wheat and corn have been in net import for 4 consecutive years
Xinhua News Agency dispatch: Although China's grain production has achieved 11 consecutive years of growth since 2004, agricultural trade has correspondingly shown a "dual normality" phenomenon of normalized trade deficits and normalized price inversions. This was learned by reporters at the 2015 (Third) China Grain and Food Safety
Xinhua News Agency dispatch: Although China's grain production has achieved "11 consecutive years of growth" since 2004, agricultural trade has correspondingly shown a "dual normality" phenomenon of normalized trade deficits and normalized price inversions. This was learned by reporters at the 2015 (Third) China Grain and Food Safety Strategy Summit held there.
According to Ye Xingqing, Director of the Rural Department of the Development Research Center of the State Council, at the summit, with the increase in grain imports, China's agricultural trade has been in deficit for 11 consecutive years, and the scale of the deficit has gradually expanded; the agricultural trade deficit will become the norm.
Data shows that last year China's grain imports exceeded 100 million tons for the first time. In recent years, while the trade deficit in livestock products has expanded rapidly, China's three major grain varieties - rice, wheat and corn - have also been in net import for 4 consecutive years, while imports of corn substitutes sorghum and DDGS (distillers dried grains with solubles) have also seen substantial growth in recent years.
Experts believe that the agricultural trade deficit is related to the inversion of prices at home and abroad. Affected by factors such as the decline in international market prices of bulk agricultural products in recent years and the domestic minimum purchase prices and temporary storage prices remaining high, the inversion of domestic and international agricultural product prices has become increasingly obvious. "From the perspective of the natural endowments and development stage of China's agricultural production, the cost of China's agricultural products will remain on an upward trajectory in the future, and in the medium and long term the price inversion will become the norm," Ye Xingqing said.
According to Ye Xingqing, Director of the Rural Department of the Development Research Center of the State Council, at the summit, with the increase in grain imports, China's agricultural trade has been in deficit for 11 consecutive years, and the scale of the deficit has gradually expanded; the agricultural trade deficit will become the norm.
Data shows that last year China's grain imports exceeded 100 million tons for the first time. In recent years, while the trade deficit in livestock products has expanded rapidly, China's three major grain varieties - rice, wheat and corn - have also been in net import for 4 consecutive years, while imports of corn substitutes sorghum and DDGS (distillers dried grains with solubles) have also seen substantial growth in recent years.
Experts believe that the agricultural trade deficit is related to the inversion of prices at home and abroad. Affected by factors such as the decline in international market prices of bulk agricultural products in recent years and the domestic minimum purchase prices and temporary storage prices remaining high, the inversion of domestic and international agricultural product prices has become increasingly obvious. "From the perspective of the natural endowments and development stage of China's agricultural production, the cost of China's agricultural products will remain on an upward trajectory in the future, and in the medium and long term the price inversion will become the norm," Ye Xingqing said.