A lot on the plate
Updated: 2012-03-31 07:54
By Lu Chang (China Daily)
|
|||||||||
China's growing demand offers many opportunities for overseas livestock and grain traders
Chicken feet, pig knuckles or cow tripe are hardly items that set the cash registers ringing at the export turnstiles. But in the global food markets, it is these leftover animal parts that are shaping the market trends as strong demand from China is providing the much-needed prop to meat and grain farmers.
Despite its humble nature, imports of pig offal - including pig's head and knuckles, often served as a cold, fun snack with beer - stood at 882,200 tons in 2011 and accounted for more than 65 percent of the total pig products imported in China.
Along with its robust economic growth and dietary enrichment, demand for meat has also been growing steadily in China. The nation is one of the world's largest consumers of pork, and its huge demand had a cascading effect on animal feed prices last year, particularly that of corn and soybean.
In 2011, China imported agricultural products worth nearly $95 billion, compared with just $12 billion in 2001. The 2011 figures also represented 30 percent year-on-year growth, according to the Ministry of Agriculture.
Along with the rising trade volumes, there has also been a growing trade deficit in the agricultural sector. In 2011, the trade deficit rose 47.4 percent to $34 billion, whereas in 2004, China was still a net agricultural exporter.
"China will become the world's largest agricultural product importer within the next five to 10 years," said Cheng Guoqiang, a senior researcher with the Development Research Center of the State Council.
China is already the world's largest importer of soybeans and cotton, and has been the largest agricultural export market for the US since 2010, with a total value tripling over the past six years to $17.8 billion. High on China's list of imports from the US are corn, soybeans, cotton and processed animal feed.
- Relief reaches isolated village
- Rainfall poses new threats to quake-hit region
- Funerals begin for Boston bombing victims
- Quake takeaway from China's Air Force
- Obama celebrates young inventors at science fair
- Earth Day marked around the world
- Volunteer team helping students find sense of normalcy
- Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
Beyond Yao
|
Money power |