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QINGDAO TODAY
在线翻译:
szdaily -> Business/Markets -> 
Grain imports plunge amid higher prices
    2018-10-24  08:53    Shenzhen Daily

IMPORTS of grains such as sorghum plunged in September from the year before, customs data showed yesterday, hit by trade tensions with the United States and high prices elsewhere.

Imports of sorghum, largely used in China to feed the country’s massive livestock herd, fell 76.9 percent from the same month last year to 90,000 tons, according to the data, dragged down by Chinese tariffs on cargoes of the commodity from key supplier the United States.

Despite that drop, imports of sorghum were higher than expected, said Darin Friedrichs, risk management consultant at INTL FCStone in Shanghai.

“It’s definitely higher than expected given how reliant (China was) before on the United States,” he said. Australia likely supplied all of last month’s sorghum imports, he added.

Corn imports for the month came to 40,000 tons, down 83.4 percent year on year and the lowest volume since November 2016, the data also showed.

“Chinese buyers bought a lot of corn in the first months of the year and used much of their import quota amid rising domestic corn prices,” said Cherry Zhang, an analyst with Shanghai JC Intelligence Co.

“As for sorghum and barley, global prices were not very attractive, which curbed buying,” Zhang said.

Barley imports fell 27.1 percent to 680,000 tons, the data showed.

Meanwhile, pork imports edged up from the previous month to 94,317 tons, and were up 8.4 percent on the year.

China brought in 923,053 tons of pork in the first nine months of the year, on a par with last year’s levels, according to the data.

Sugar imports rose 16.1 percent to 190,000 tons in September.(SD-Agencies)

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