China's large import of food further exacerbates the international food supply shortage.
According to U.S. media reports, with the increase in income, consumption of staple foods such as rice and noodles by urban residents in China has declined in recent years, and the demand for meat, poultry, eggs, and dairy products has risen significantly. In order to meet the market demand, poultry farms, pig farms, and cattle-raising plants have increased in various regions, and the demand for feed has soared.
The current agricultural production in China is obviously unable to meet the increase in feed demand. The Washington Post stated on the 22nd that China imported 20 billion U.S. dollars worth of soybeans from the United States last year, which has tripled from a decade ago. Zhang Xiaoping, acting director of the US Soybean Export Council in China, predicts that US soybean exports to China will exceed 2,500 metric tons this year, setting a record for the fourth consecutive year.
Zhang Xiaobo, a researcher at the International Food Policy Research Institute in Washington, said that this is mainly to meet feed demand.
He said: “The ratio of food to feed is still relatively high, which is higher than directly eating food. In the early stages of development, people suddenly eat more meat, which means that the overall demand for food may increase, that is, direct rations plus Feed grain."
Zhang Xiaoping said that in addition to soybeans, China still needs a lot of corn imports, partly for the production of biofuels. Terry Vinduska, chairman of the US Grains Council, revealed that China’s demand for US corn has steadily increased.
He said: "China's livestock have increased rapidly and demand for corn will also increase. China's corn import market is expanding and will grow significantly in the coming years."
The Earth Policy Institute predicts that China may also import large amounts of wheat this year, with imports accounting for 5% to 10% of total demand, and already high food prices will rise further. According to official statistics, China’s grain prices have risen by 7% this year, forcing the government to urgently use grain reserves, while limiting the speculation and hoarding of major commodities such as rice and wheat.
China purchases large quantities of food from the international market, making the already tight international food supply even more strained. World Bank President Zoellick said previously that the world’s reserves of key commodities such as food have reached or approached historical lows, and that major food-producing countries may experience food crises if they reduce their food production significantly or encounter bad weather.
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