China: Grain and bean imports running at high speed despite large local crops
Although Chinese official crop and grain stocks numbers are large, grain and bean imports run at high speed, H. M. Gauger GmbH reported earlier in June.
The government is taking measures aimed at avoiding further price increases in the food sector. The maize price at the Dalian Commodity Exchange is still at a record high of US$430/435 per tonne.
USDA estimates of Chinese imports in 2021/22 are 103 mln tonnes of soybeans and 56 mln tonnes of all grains, of which 10 mln tonnes of barley. The trade rather believes those figures will be higher.
Barley shipments of accepted suppliers in the crop year 2020/21 have been: Canada shipped approximately 3.2 mln tonnes in August 2020 - May 2021, France 2.73 mln tonnes between July 2020 and 24 May 2021, Ukraine 2.83 mln tonnes in July 2020 April 2021, Argentina 1.24 mln tonnes in December 2020 May 2021, Uruguay 30 thousand tonnes, thus the total is 10 mln tonnes. The bulk of China's purchases was feed barley, with some FAQ and very little malting barley to-date. The question is: what are maltsters and brewers going to do about the good increase of beer sales, the trend towards premium and craft beer? They will need quality barley, but millions of tonnes are not easily available.