Last week, Bloomberg News reported that, “China’s reaffirmation of a long-term goal to be almost entirely self-sufficient in pork production means it will keep scooping up global grain supplies to feed the world’s largest pig herd.
“The country, which consumes half of the world’s pork, will maintain a target to produce 95% of the protein at home through 2025. It wants to be self sufficient in poultry and egg, 85% for beef and mutton, and 70% for dairy, the agriculture ministry said, adding that they form part of China’s food security goals.
Chinese #corn imports surge thru first 11 months of 2021, although rather slow past two months. #oatt pic.twitter.com/qCsLdnZ0BG
— Arlan Suderman (@ArlanFF101) December 21, 2021
“The targets will likely bolster overseas purchases of soybeans and feed grains needed to fatten hogs, cattle and poultry. China is already the top importer of soybeans and corn, and has purchased unprecedented amounts in the past two years to feed a hog herd recovering from African swine fever. The buying binge sparked a global price rally as investors were also worried about supply.”
The Bloomberg article added that,
‘Imports of feed grain are likely to remain high for the foreseeable future as China begins to prioritize domestic production of meat and dairy,’ said Darin Friedrichs, co-founder and market research director of Sitonia Consulting, a China-based agriculture information service provider.
Meanwhile, on Sunday, Bloomberg News reported that, “Chinese President Xi Jinping reiterated ensuring grain security and agricultural product supply at a meeting before the two-day Central Rural Work Conference held Dec. 25-26, state-run China Central Television reports.
“Xi urges farmland protection and expanding soybean and oil crops planting.”
