Statistics on China's Grain and Oil Import Data in 2014

China imported 19.51 million tons of grain in 2014

According to customs statistics, in December 2014 China imported 2.37 million tons of grain and grain flour, with a cumulative total of 19.51 million tons for the year, compared with 14.58 million tons in the same period of the previous year, a year-on-year increase of 33.8%; in December 2014, 73,703 tons of rice were exported, with a cumulative total of 419,071 tons for the year, compared with 478,404 tons in the same period of the previous year, a year-on-year decrease of 12.4%.

China imported 71.40 million tons of soybeans in 2014

According to the latest data released by China Customs, in 2014 China imported 71.40 million tons of soybeans for the full year, a year-on-year increase of 12.7%, setting a record high, while in December 853 tons of soybeans were imported, up 41.5% from the previous month. In terms of import prices, the average cost of imported soybeans was below 3,400 yuan/ton, at a low level in recent years, while freight rates and other costs also declined, further stimulating the scale of domestic imports. Analysts said that in 2014, global soybean production set a new historical record, and ending stocks increased significantly, causing prices to continue falling. Due to the rapid growth in demand for feed protein meal, China's soybean imports increased for the tenth consecutive year and exceeded 70 million tons.

Data show that in December the average import price of soybeans in China was 491.2 USD/ton, down 7.7 USD/ton from November, the seventh consecutive month of decline. In addition, in December 2014 the import volume of vegetable oil was 590,000 tons, up 47.5% month on month.