Grain feed use is on the rise in China

According to the Global Agricultural Information Network (GAIN) report prepared by the USDA Foreign Agricultural Service (FAS), China's grain feed and forage consumption is projected to grow slightly to 285 million tons in the 2023-24 marketing year, up 2.7%. more than in 2022-23 (282.3 million tons).

FAS forecasts corn production in 2023-24. will increase to 280 million tons due to an increase in cultivated area to 40.927 million hectares (by 1.9%) and an increase in yield. It is expected that in 2023-24. Feed corn and feed demand will be 222 million tons, up 2% from 220 million tons year over year.

Corn imports in 2023-24 will be 20 million tons, which is 1 million tons lower than the June forecast, since there are alternative domestic and imported grain crops that are free from tariff quotas (TRQ) to replace corn in feed; Substitution of corn with local old stock rice and germinated wheat, as well as imported sorghum and barley, will be significant.

“Traders unable to import corn at competitive prices or obtain TRQs are showing active interest in alternative grains such as locally grown wheat and old rice, as well as imported barley and sorghum as replacements for corn in feed rations,” it says. in the FAS message. “On the other hand, government agencies and retailers will likely continue to stockpile corn, purchasing imported corn at competitive prices.”

Milled rice production forecast remains unchanged at 149 million tonnes despite high temperatures and typhoon damage throughout the summer, offset by increased rainfall in dry southern areas that benefited from abundant rainfall.