China Ramps Up Farm Imports to Cover Domestic Food Shortages
- Country is buying record amounts of corn and soybeans
- More than 3 million tons of corn sales reported this week
Source: AFP/Getty Images
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China, the world’s biggest importer of farm commodities, ramped up purchases in the first two months of this year to plug growing local shortages and to keep food prices under control.
The country shipped in almost 5 million tons of corn in January and February, more than five times the amount unloaded a year earlier, according to customs Thursday. That included an all-time monthly high of 3 million tons in January.