Chinese Agricultural trade deficit up 14.3 times

by S. C.

The Chinese Ministry of Agriculture released information indicating that in 2008 from January to May China's agricultural products (000061, stock bar) both import and export growth, import growth is much greater than export growth, rapid expansion of agricultural trade deficit of 75.7 billion U.S. dollars, up 14.3-fold.

China's agricultural imports and exports from January to May totaled 39.93 billion U.S. dollars, an increase of 36.1%. Among them, exports of 16.18 billion U.S. dollars, up 12.2%; imports amounted to 23.75 billion U.S. dollars, up 59.2%.

A specific view, the rapid decline in net exports of grain, the former in May China's exports of grain 1.187 million tons, down 76.6%; imports 911,000 tons, up 14.2%; net export of 276,000 tons, down 93.5%.

Livestock trade deficit increased rapidly. January-May exports of animal products 1.65 billion U.S. dollars, up 10.0%; imports of 3.28 billion U.S. dollars, up 35.9%; trade deficit of 1.63 billion U.S. dollars, up 78.6%. Among them, live pig exports 350 million U.S. dollars, down 2.8%; imports 440 million U.S. dollars, up by 2.8 times.

In contrast, edible oil seeds, edible vegetable oil imports are growing. January-May exports 82,000 tons of edible vegetable oil, up 6.0%; imported 3.58 million tons, an increase of 11.2%. Among them, soybean oil exports of 34,000 tons, an increase of 17.0%; imported 1.131 million tons, an increase of 7.6%. Rapeseed oil exports 2567.2 tons, down 85.3%; import of 98,000 tons, down 12.8%. Palm oil imported 2.334 million tons, an increase of 17.1%.