China Could Become The World's Largest Buyer of Wheat

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The U.S. Department of Agriculture expects a record wheat crop of 138 million tons in China this year, but analysts wonder why the country is poised to become the world's largest buyer when production is so high.

Market analysts are trying to figure out why the country will buy three times as much wheat as it did five years ago

According to the U.S. Department of Agriculture, China will supplant Egypt as the world's largest wheat importer between 2022 and 2023.

The country is expected to buy 12 million tons of the commodity, the highest level since the 12.5 million tons imported in 1995-96.

China's purchases began increasing in 2020-21 and are now projected to triple the level of five years ago.


PigUA.info by minagro.gov.ua