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szdaily -> Business/Markets -> 
August grain imports slide on Sino-US trade war
    2018-09-26  08:53    Shenzhen Daily

THE country’s grain imports fell sharply in August, customs data showed, a month after China imposed tariffs on shipments from the United States, one of its top suppliers.

China brought in 60,000 tons of sorghum in August, down 78.5 percent from 259,892 tons a year ago, according to figures published by the General Administration of Customs.

Shipments were also down from July’s 220,000 tons.

China imposed 25-percent tariffs on a list of U.S. products July 6, in response to American duties on a list of Chinese products levied the same day.

The duties cover sorghum, corn and soybeans, key raw materials for China’s animal feed industry, as well as pork, which had already been hit with tariffs in April.

The customs figures do not give a country by country breakdown, but China imports almost all of its sorghum from the United States.

The import slump came despite a fall in sorghum prices that made shipments attractive even when adding in the cost of the tariff, said market participants.

“I dare not buy large volumes as there is still policy risk,” said a Chinese sorghum trader.

China also bought 330,000 tons of corn in August, down 13.5 percent from 377,518 tons a year ago. Wheat imports fell 51.6 percent from a year earlier to 140,000 tons.

China imports about a third of its corn and wheat from the United States, according to customs data.

China imported 550,000 tons of barley in August, down 29.1 percent from 781,669 tons a year earlier, according to the data.

August pork imports rose 10.8 percent year on year to 92,587 tons, despite tariffs on product from the United States, a major supplier to China, and low domestic pig prices that have reduced demand for cheap imports.

Sugar imports in August fell 24.4 percent to 150,000 tons, the data showed.(SD-Agencies)

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