Bloomberg reports that China will boost wheat imports in the coming year to secure domestic food requirements and is likely to increase purchases from the US to help meet commitments under the phase one trade deal.
The world’s largest consumer and producer of wheat is set to buy 6 million tons in the 12 months starting June, up from just over 4 million tons in the previous year, according to the China National Grain and Oils Information Center, the government forecaster. That would be the highest since 2013-14.
China, also the top global soybean importer, is already buying hefty amounts of corn and cotton from the U.S. to fill domestic needs and try to satisfy pledges under the trade deal. In terms of wheat, the Asian country is boosting purchases from France and Lithuania, while Russia and Kazakhstan are willing to sell more, the center said. The U.S. Department of Agriculture also estimates wheat imports at 6 million tons in the coming year.
China has been under pressure to fulfill its annual grain import quotas, which include corn and rice, under WTO commitments.