China: Barley imports forecast at up to 9.5 mln tonnes
Chinese barley crop is estimated at 2.0 mln tonnes, import forecast at 9.5 vs. 8.5 mln tonnes last year, H. M. Gauger GmbH reported in December citing a report by the USDA.
Barley imports in January-October 2022 were only 4.752 mln tonnes, of which 340 thousand in October. Chinese policies aim at a reduction of feed grain imports. However, coarse grain stocks in South China are falling rapidly, and c+f prices of feed barley compare favourably with domestic corn prices from the north.
On paper China also needs 3.0 – 3.5 mln tonnes of malting barley for its beer production; crop 2022 import purchases are estimated at approximately 2.3 mln tonnes. Maltsters are covered for the 1st quarter of 2023.
Since the embargo of Australian barley China has purchased almost exclusively FAQ and feed barley for its beer industry. In October imports included 155 thousand tonnes of Canadian barley; a possible fungus infection blocks the arrivals in ports. Rumours are that France recently sold 2 cargoes of barley, shipment in January, at US$ 350,- c+f. Markets are concerned about the strict corona policies of China and their effect on the national and world economies.
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