China’s H1 Grain Imports Spike
Country may fully use up its annual quotas for corn and wheat imports for first time ever
China has accelerated grains buying from abroad in the first half of 2020 and may fully use up its annual quotas for corn and wheat imports for the first time ever, traders and analysts said this week.
Reuters reports China imported 3.66 million tonnes of corn from January to June, 51% of its annual quota for the grain set at 7.2 million tonnes, according to customs data released on Thursday.
Wheat imports came at 3.35 million tonnes, 35% of its yearly quota at 9.64 million tonnes, the data showed.
Last year, China only used 67% of its annual quota for corn and one-third of its yearly wheat quota.