Related News
China overtakes US to be biggest importer of agricultural products
Source: Bloomberg News |
September 21, 2012, Friday
|
Print Edition
Print Edition
CHINA overtook the US last year for the first time to become the biggest importer of agricultural products and also increased its exports, according to data by the World Trade Organization.
Imports, including food and beverages, rose 34 percent to US$144.7 billion in 2011 from US$108.3 billion in 2010, according to Bloomberg News calculations based on data released by the Geneva-based WTO. Exports gained 25 percent to US$64.6 billion, beating Canada to become the sixth-largest, the data show.
Growth in the world's second-biggest economy and largest population has boosted demand from soybeans and corn to feed livestock to powdered milk and sugar to make beverages. Urbanization widened China's water and land shortages, further fueling a global rally in crops amplified by drought-reduced supply.
"Whether it's rice, wheat or soybeans, China's needs are huge and they are only going to get bigger, because it can't produce enough while urbanization is still progressing," said Li Qiang, the Shanghai-based chairman of commodity researcher Shanghai JC Intelligence Co. The country generally favors importing unprocessed crops to raise animals rather than processed products, he said.
The US has long been a net exporter of crops, while China's shipments, while growing, are smaller than its imports, Li said. China had a net-import bill last year of US$80.1 billion, while the US recorded US$31 billion in net exports, according to Bloomberg News calculations based on WTO data.
Imports, including food and beverages, rose 34 percent to US$144.7 billion in 2011 from US$108.3 billion in 2010, according to Bloomberg News calculations based on data released by the Geneva-based WTO. Exports gained 25 percent to US$64.6 billion, beating Canada to become the sixth-largest, the data show.
Growth in the world's second-biggest economy and largest population has boosted demand from soybeans and corn to feed livestock to powdered milk and sugar to make beverages. Urbanization widened China's water and land shortages, further fueling a global rally in crops amplified by drought-reduced supply.
"Whether it's rice, wheat or soybeans, China's needs are huge and they are only going to get bigger, because it can't produce enough while urbanization is still progressing," said Li Qiang, the Shanghai-based chairman of commodity researcher Shanghai JC Intelligence Co. The country generally favors importing unprocessed crops to raise animals rather than processed products, he said.
The US has long been a net exporter of crops, while China's shipments, while growing, are smaller than its imports, Li said. China had a net-import bill last year of US$80.1 billion, while the US recorded US$31 billion in net exports, according to Bloomberg News calculations based on WTO data.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
