Washington, DC: China emerged as the largest wheat importer in the marketing year 2022-23 importing around 12 million tonnes, as per the Grain: World Markets and Trade issued by the Foreign Agricultural Service of the US Department of Agriculture (USDA), reports World-Grain.
The USDA stated that it is the highest level of imports since 1995-96 when it had imported 12.5 million tonnes. Turkey and the EU were the next largest importers with 10.5 million tonnes followed by Indonesia importing 10 million tonnes.
The minimum support policy and the reduced auction activity apart from the uncertainty regarding the government’s COVID-19 policies, the prices of the commodity remained higher in China. The price of wheat remained around $40 per tonne in the past year.
The prices of the commodity were lower in the international market, falling below $400 per tonne following sufficient supplies from Australia, The EU and Canada.
China purchased 66% more wheat from Canada this year compared to last year while its imports from Canada were up by 83%.
