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China Update
Story Date: 6/2/2021
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Source: Danny Ding, NCDA&CS, 6/1/21
According to the General Administration of Customs of China, the value of agricultural products imported by China in the first four months of this year was approximately US $68.01 billion, a year-on-year increase of 32.8%. The U.S. is China’s largest source country of imported cotton, accounting for about 47% of the total imported cotton.
In recent days, although China's purchase of U.S. soybeans has declined, its purchase demand for U.S. corn has been steadily increasing. In the term of the import volume from January to April this year, the cumulative imported corn has reached 8.58 million metric tons, an increase of 301.2% year-on-year. In addition, the latest statistics show that since May 7th, China has purchased more than 10 million metric tons of U.S. corn.
On May 24th, the topic of “paper mills stopping production one after another” became a hot issue. The price of cultural paper has generally increased by US$31.3/metric ton, and the price of white cardboard has increased by US$156.5 yuan/metric ton. Whether it is domestic raw materials or imported pulp, the recent prices have been rising, which burdened midstream manufacturer of paper in China.
NCDA China Office continues to be fully open. We have been helping Chinese buyers to connect with North Carolina exporters, such as Fortnight Brewing and Wicked Crisps.
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