Chinese Rice Imports Exceeds Exports by 600,000 Tons per Month
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According to the latest data released by the General Administration of Chinese Customs, the cumulative import volume of Rice was 2.91 million tons, increased by 22.68% year-on-year. Total Rice imports in May 2022 were 660,000 tons, an increase of 60,000 tons compared with April’s imports, a month-on-month increase of 10%, and an increase of 330,000 tons compared with May 2021, up 100% year-on-year.
In contrast, China’s Rice exports totaled 60,000 tons in May 2022, a new low in the past three years, a decrease of 190,000 tons from March’s exports, a month-on-month decrease of 76%. It decreased by 170,000 tons compared with the same period of 2021, down 74% year-on-year. From January – May, the cumulative export volume of Rice was 730,000 tons, a year-on-year decrease of 30.5%.
From the perspective of importing countries, in May 2022, the key importing countries of Rice have been: India, Pakistan, Vietnam, Myanmar, and Thailand, with import volumes of 243,500 tons, 138,900 tons, 130,900 tons, 77,700 tons, and 30,700 tons, respectively.
In terms of imported Rice varieties, the leading varieties were Broken Rice, Polished Rice, and Brown Rice in May 2022, and the proportion of broken Rice is still the largest. It accounts for 63.8% of the total import volume of Rice, and the import volume of Milled Rice has increased significantly. The Polished and Brown Rice accounted for 36.2% and 0.04%, respectively.
From the perspective of importing provinces, major rice-importing provinces and cities have been Guangdong, Fujian, Beijing, Yunnan, Shandong, Anhui, & Jiangsu, amongst others. Among them, the import volume of Beijing (91% growth), Shandong (60%), and Yunnan (54%) have increased significantly compared with April, and other provinces and cities have changed little. By volume, Guangdong led the others by 270,800 tons of Rice. The import volume of Broken Rice is expected to not change much in the coming months.
China Rice Price Varieties
The National Development and Reform Commission (NDRC) set the minimum purchase prices for early Indica, late Indica, and Japonica Rice at 124 yuan, 129 yuan, and 131 yuan per 50kg, respectively, in February. The prices are higher than those set for 2021, indicating increasing support for crop production.
According to the NDRC, the total volume of Rice purchased at the minimum purchase price for 2022 will be limited to 50 million tons, with 20 million tons for Indica Rice and 30 million tons for Japonica Rice.
In late April, the purchase price of Heilongjiang Jixi round-grain Japonica Rice (third-grade national standard) was 2,640 yuan/ton, ex-factory (EXW) price of round-grain Japonica Rice (second-class national standard) was 3,560 yuan/ton, and long-grain japonica was 2,660 yuan/ton.
The wholesale price of Northeast Rice (level 3 of the national standard) in the Beijing market was 4,500 yuan/ton; the wholesale price of high-quality Jiangsu Japonica Rice in the Shanghai market was 4,680 yuan/ton, and the wholesale price of ordinary Anhui Japonica Rice (level 2 of the national standard) was 4,260 yuan/ton, on a weekly basis.
The main Indica rice-producing areas have been less affected by the epidemic control than the Japonica rice-producing areas. Therefore, the cross-regional flow of Paddy and Rice is relatively standard. Additionally, the market for mid-late Indica Rice is abundant, and prices in some areas continue to drop.
China’s Rice production is expected to be 149 million tons this year. Heilongjiang is the largest rice-producing province with 29 million tons output (as of 2020 data), followed by Hunan, Jiangxi, Jiangsu, Hubei, Anhui, Sichuan, Guangdong, and Guangxi. Jilin, Yunnan, Henan, and Chongqing are the next top performers.
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