China is set to become more dependent on imported grains, oilseeds and meat during the next 10 years, a development that is likely to support prices and fuel further dealmaking in the global agribusiness industry.
The Food and Agriculture Organization and the OECD on Thursday painted a bullish view for Chinese food demand in their closely watched annual agricultural outlook. The report for the first time devotes a full chapter to China.
The country’s imports of coarse grains, used mostly for fattening herds, are expected to double by 2022, imports of soyabeans will grow 40 per cent, while meat imports are also set to soar, with beef imports nearly doubling.
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