China Wheat Imports Surge Key Insights and Projections for 2023/24 Season

From January through April 2023, China's wheat imports amounted to a considerable quantity of 5.9 million tons, which represented 60% of the total wheat imports recorded in the previous year, standing at 9.8 million tons.

April 2023 proved to be a notable month, with China importing 1.67 million tons of wheat, indicating a substantial increase of 141% compared to the corresponding period in the previous year.

Analysing the distribution of China's wheat imports during the first four months of 2023, it becomes evident that Australia played a vital role, accounting for 60% of the total volume imported. Canada followed closely behind, contributing 18% of the wheat imports, while France constituted 13% and the United States contributed 8% of the total volume.

Considering the recent floods in Chinese Henan province and subsequent deteoriation in wheat yields, it is expected that the country will import 13+ million metric tons of wheat during the 2023/24 season.