China could overtake Egypt, Turkey as world's top wheat buyer
Updated 6/21/2023 12:11:00 PM
Arab Finance: China is on track to overtake both Egypt and Turkey as the world’s largest purchaser of wheat in the year to June, Bloomberg reported on June 21st, citing Chinese and US official data.
Chinese wheat purchases exceeded 12 million tons in the first 11 months of the current marketing year, which runs until the end of June, the data showed, adding that over half of those shipments were supplied by Australia.
The data also revealed that imports of staple food surpassed 1 million tons per month as of October before surging to a record high of 1.68 million tons in April.
The US Department of Agriculture expects registering further 12 million tons of Chinese imports in the 2023/2024 marketing year after the damage caused to the latest crop.
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