Overall trade situation
In August 2024, China's grain imports and exports were 6936.8 million US dollars, up 58% year-on-year.
Among them, exports were 1146 million US dollars, down 218% year-on-year; imports were 68222 million US dollars, up 64% year-on-year; net imports for the month were 6707.6 million US dollars. From January to August 2024, China's accumulative grain imports and exports were 499,640 million US dollars, down 132% year-on-year. Among them, cumulative exports were 8,992 million US dollars, down 134% year-on-year; cumulative imports were 490,648 million US dollars, down 132% year-on-year; cumulative net imports were 481'56 million US dollars,
In August 2024, China's total grain imports and exports were 151.86 million tons, up 170% year-on-year. Among them, exports were 2.03 million tons, down 168% year-on-year; imports were 149.83 million tons, up 17.7% year-on-year. From January to August 2024, China's total grain imports and exports totaled 1144.13 million tons, up 59% year-on-year. Among them, the cumulative export was 13.59 million tons, a year-on-year decrease of 76%; the cumulative import was 1130.54 million tons, a year-on-year increase of 61%.
Fig. Overview of China's grain imports and exports from January to August 2024 (million US dollars/10,000 tons)
Import product structure
In August 2024, the top three products in terms of China's grain import value were soybeans, barley and sorghum, with imports of US$59,838 million, US$2,974 million and US$1,695 million, respectively, accounting for 877%, 44% and 25% of the total grain imports, with year-on-year growth rates of 149%, 1,533% and ˉ92% respectively.
From January to August 2024, the top three products in terms of China's grain import value were soybeans, corn and wheat, with imports of US$359,993 million, US$34,372 million and US$33,499 million, respectively, accounting for 734%, 70% and 68% of the total grain imports, with year-on-year growth rates of ˉ144%, ˉ343% and ˉ58% respectively.
In August 2024, the top three products in terms of China's grain import value were soybeans, barley and sorghum, with imports of US$59,838 million, US$2,974 million and US$1,695 million, respectively, accounting for 877%, 44% and 25% of the total grain imports, with year-on-year growth rates of 149%, 1,533% and -92% respectively.
From January to August 2024, the top three products in terms of China's grain import value were soybeans, corn and wheat, with imports of US$359,993 million, US$34,372 million and US$33,499 million, respectively, accounting for 734%, 70% and 68% of the total grain imports, with year-on-year growth rates of -144%, -343% and -58% respectively.
Fig. China's grain import value by product in August 2024 (million US dollars)
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