Grain imports decrease year-on-year in November 2024

The latest data released by the General Administration of Customs shows that in November 2024, China imported about 9.47 million tons of grain, a year-on-year decrease of 34.8%. From January to November 2024, China imported about 147 million tons of grain, a year-on-year increase of 3.1%. Looking at different varieties, imports of soybeans, wheat, barley, and sorghum decreased month on month in November, while imports of corn and rice increased month on month. From the perspective of grain import structure, soybeans still account for the largest proportion of imported varieties, followed by sorghum, barley, corn, and rice; The proportion of wheat imports is the smallest.

According to customs data, China imported 300000 tons of corn in November 2024, a month on month increase of 11.11% and a year-on-year decrease of 91.8%; From January to November 2024, China imported approximately 13.42 million tons of corn, a year-on-year decrease of 39.9%. Among them, 6.345 million tons of corn were imported from Brazil, accounting for 47.3%; Ukraine imported 4.613 million tons, accounting for 34.4%; The United States imported 2.065 million tons, accounting for 15.4%. From the perspective of import source countries, about 190000 tons of corn were imported from Brazil in November, accounting for 63% of the total imports for the month, a decrease of 15.91% month on month and a decrease of 94% year-on-year; Imported 50000 tons of corn from Ukraine, a month on month increase of 26.25%. Due to the record high corn production this season and the decline in domestic corn prices, the import volume of corn has gradually shown a downward trend since June. In August, September, and October, the monthly import volume was less than 500000 tons for three consecutive months, and the import volume of corn in October hit a new low since December 2019. Based on the current arrival schedule of imported corn at the port, it is expected that the import volume will continue to remain low in December this year, with an annual import volume of less than 14 million tons.

According to data from the General Administration of Customs, in November 2024, China imported 50000 tons of wheat, a decrease of about 77.27% compared to the previous month and a decrease of 90% compared to the previous year; From January to November 2024, China imported a total of 10.87 million tons of wheat, a year-on-year decrease of about 5%. Among them, 3.35 million tons were imported from Australia, accounting for 31%; Canada imported 2.44 million tons, accounting for 22.5%; France imported 2.29 million tons, accounting for 21.1%; The United States ranks fourth with imports of 1.9 million tons, accounting for approximately 17.5%. From the perspective of import source countries, approximately 25000 tons of wheat were imported from Kazakhstan in November, a decrease of 42.3% compared to the previous month. In November, 21000 tons of wheat were imported from Russia, a decrease of 57.8% compared to the previous month. In November, 10400 tons of wheat were imported from Canada, a decrease of 90.19% compared to the previous month. In November, 2440 tons of wheat were imported from Australia, a decrease of 75.1% compared to the previous month. In November, 0.263 million tons of wheat were imported from the United States, a decrease of 70.2% compared to the previous month. Based on the current arrival schedule of imported wheat at the port, it is expected that the import volume will continue to remain low in December this year, and the import volume of wheat in 2024/25 will slightly decrease year-on-year.

According to data released by the General Administration of Customs, the import volume of barley in China in November 2024 was 720000 tons, a decrease of 23.40% month on month and 41% year-on-year; From January to November 2024, China imported a total of 13.47 million tons of barley, a year-on-year increase of 39.9%. From the perspective of import source countries, 5 million tons were imported from Australia from January to November, accounting for 38%; France imported 2.067 million tons, accounting for 14.4%; Argentina imported 1.645 million tons, accounting for 13%; Canada imports approximately 1.628 million tons, accounting for 11.5%.

According to customs data, the total import volume of sorghum in China in November 2024 was 730000 tons, a decrease of 6.41% compared to the previous month and an increase of 34% year-on-year; From January to November 2024, China imported a total of 8.29 million tons of sorghum, a year-on-year increase of 70.3%. From the perspective of import source countries, 5.53 million tons were imported from the United States from January to November, accounting for 66.8%; Australia imported 1.844 million tons, accounting for 22.3%; Argentina imported 910000 tons, accounting for 11%.

According to data released by the General Administration of Customs, rice imports reached 170000 tons in November 2024, a month on month increase of 41.67% and a year-on-year increase of 35%; From January to November 2024, China imported a total of 1.25 million tons of rice, a year-on-year decrease of 47%. From the perspective of import source countries, 460000 tons were imported from Myanmar from January to November, accounting for 37%; Thailand imported 312000 tons, accounting for 25.4%; Vietnam imported 262000 tons, accounting for 20.1%; Pakistan imported 92000 tons, accounting for 7.3%. Due to the lower price of imported broken rice compared to domestic prices, coupled with increased import volume by exporters before the end of the year, the import volume of rice has rebounded this month and turned to growth year-on-year.