With over 66 million tonnes of Cereals and over 102 million tonnes of Oilseeds imported in 2021, China is the largest importing country in the world. Furthermore, China holds 68% of the world Corn stocks, 36% of the Soybean stocks and nearly 51% of the world Wheat stocks.
With these volumes, it is very important to know the prices of Chinese agricultural products, the possible market trends, the value of commodities on the local market and in the main China’s suppliers, as well as the progress of sowing and cultivation estimates.
In 2022-23 season, for example, China is projected to increase domestic Soybean production compared to the previous campaign (+ 6.7%, source USDA), while is expected to reduce the production of Corn (-0.6%) and Wheat ( -1.4%). The expected production should amount to approximately 271 million tons of Corn, 17.5 million tons of Soybeans, 135 million tons of Wheat.
Also in April 2022 the increase in local prices of Corn, Soy and Wheat continued. Domestic prices are placed on values higher than import prices, probably due to political will to support domestic production of commodities.
The new page of TESEO “China: prices of agricultural products” allows you to follow the prices and trends of Corn, Soy, Wheat and even Tomato, which sees China as the largest Producer worldwide. This information, together with the seasonal forecasts of Chinese production, allow companies to partially plan their future actions, to contribute to having an increasingly reliable and complete internal balance sheet, bearing in mind, however, that elements of uncertainty can change prices, markets and plans.