Source: Ukragroconsult (Ukraine)
China has set a new grain production goal of 700 million tons for 2025, surpassing the previous minimum target of 650 million tons. This decision arises amid a worsening trade dispute with the U.S., a key grain supplier to China, as reported by Bloomberg.
During the annual session of the National People’s Congress, Premier Li Qian emphasized that every region must take responsibility for the nation’s food security. The focus for China will be on maintaining stable planting areas while enhancing both crop yield and quality.
In response to the recent tariffs implemented by the U.S., Beijing has enacted additional duties ranging from 10% to 15% on soybeans, corn, and wheat imported from the U.S., and has halted soybean imports from three American firms.
Moreover, China aims to lessen its dependency on soybean meal imports and explore alternatives for its feed industry. This effort is part of a larger initiative to decrease reliance on U.S. imports, which was initiated following the first trade conflict between the two nations.
For the year 2024, China is expected to harvest 706.5 million tons of grain, reflecting a 1.6% increase compared to the previous year. Nevertheless, the government is curbing imports due to an oversupply of domestic stocks and subdued demand, in order to support the incomes of local farmers.