China posts bigger farm trade deficit in 2011
Posted by Labels: China, Corporate Farming, Export, Grain, Production FiguresChina boosted imports of agricultural products last year, with the farm trade deficit rising 47.4 percent from 2010 as the country's own production fell short of demand in the world's second-largest economy.
China imported $94.87 billion worth of farm products in the whole year of 2011, with a trade deficit of $34.12 billion, the agriculture ministry said.
Imports of grains, cotton, sugar as well as livestock products all increased.
Imports of sugar rose the most, or 65 percent, in 2011 to a record 2.92 million tonnes worth $1.94 billion, the ministry said.
China's rising demand after the country's move to urbanisation coupled with limited farmland could prompt the country to become the world's largest importer of farm products in coming years, a government researcher said.
China has topped Canada to become the No 1 market for US farm products for the first time in 2011, according to the US Department of Agriculture.
China's imports of livestock products, including also meat, were worth $13.4 billion, up 38.8 percent on year, giving a trade deficit of $7.41 billion, up 50.9 percent on year, according to the ministry's report (www.agri.gov.cn).
Imports of rice, corn as well as wheat have also increased in 2011 from 2010, it said.
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