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在线翻译:
szdaily -> Business -> 
Sorghum imports jump
    2018-07-24  08:53    Shenzhen Daily

CHINA’S sorghum imports in June surged 38.1 percent year on year, boosted by a temporary easing of Sino-U.S. trade tensions, while corn imports for the month rose to one of highest levels in the past decade, customs data showed yesterday.

China brought in 450,000 tons of sorghum in June, up from last year’s 324,301 tons. Volumes were still down slightly from 470,000 tons in May, data from the General Administration of Customs showed.

China announced in mid-April that importers of sorghum from the United States would have to put up a 178.6-percent deposit on the value of shipments. Several cargoes already on the way changed course and were diverted to other markets.

A month later in a goodwill measure, however, China dropped the deposit and an anti-dumping probe into U.S. sorghum imports as the two sides appeared to be reaching consensus on resolving trade issues.

Corn buyers, meanwhile, scooped up cargoes on worries over trade policies.

Corn imports in June hit 520,000 tons, up 34.6 percent from a year ago and the second highest since July last year. The figures were down from 760,000 tons in May, the data showed.

The corn imports in the first six months tripled to 2.21 million tons, already close to China’s total 2017 purchase of 2.82 million tons of the grain, according to the data.

“There were margins importing corn as domestic corn prices were relatively high. And buyers were buying more corn in recent months to prepare for the Sino-U.S. trade tension in advance,” said Meng Jinhui, an analyst with Shengda Futures.

U.S. corn and sorghum shipments to China should drop significantly in July and August, analysts and traders said, as China imposed a 25-percent tariff on U.S. grains July 6.(SD-Agencies)

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