China, a major global importer of agricultural products, is projected to sustain near record-high levels of cereal and oilseed imports in 2024. Despite recent cancellations, driven by lower global prices and domestic output challenges, China’s wheat imports from Australia have surged significantly in the first two months of the year. The country’s robust demand for wheat, barley, soybeans, corn, and other grains is expected to persist, buoyed by competitive pricing and government initiatives to bolster grain and oilseed stockpiles. Traders anticipate continued strong import activity, especially for soybeans, driven by improved crush margins and favorable market conditions.
China Expected to Maintain Near Record High Grain Imports in 2024 Despite Recent Cancellations