China’s wheat imports hit the highest level in more than two decades. The country is accounting for 19% of global wheat consumption right now.
According to China’s customs data, the U.S. supplied 3 million metric tons of wheat imports during the last marketing year, which equates to a 28% share.
Before the 2010/2011 marketing year, the country’s typical wheat imports totaled 1 million metric tons or less.
Recently, that amount bumped up to an average of 3.5 million metric tons in most years.
Experts say the surge this year can be attributed to China’s strong demand for wheat use in animal feed, replenishing the reserves, and efforts to meet commitments under the Phase One Trade Agreement.
China’s imports accounting for 19% of global wheat consumption is four times more than the U.S. share, purchasing an estimated 10.6 million metric tons.
