China approved imports of eight genetically modified (GM) crops, permitting shipments of GM alfalfa for the first time after a decade-long wait, the country’s agriculture ministry said on Friday, reports Reuters. Global seed makers and the US government welcomed the decision after Beijing’s slow approval process disrupted grain exports and launches of crops that need […]
Category: Commodities
China’s exports suffered the sharpest decline in almost three years in December, piling on further economic pressure as policymakers in Beijing grapple with sluggish economic growth and a nationwide outbreak of COVID-19, reports the Financial Times. Exports declined 9.9% year on year in dollar terms in December, according to official data released on Friday by China’s […]
China’s aluminium imports in November fell 35.7% from a year earlier as a result of mounting domestic supply, also as the COVID-hit economy continued to temper demand for the light metal, reports Reuters. The country brought in 255,744 tonnes, including primary metal and unwrought, alloyed aluminium, last month, according to data from the General Administration […]
Margins made by processing oilseeds in China are finally turning positive, a sign of improving crop demand that could help boost futures markets, Bunge Ltd.’s Chief Executive Officer Greg Heckman said, reports Bloobmerg. The improvement is a turnaround from earlier this year when tepid demand in China weighed on agricultural trading in Chicago. As the […]
China is buying more Australian wheat than ever even after diplomatic relations between the two countries frayed in recent years, reports Bloomberg. Australian shipments accounted for 63% of China’s wheat imports in the first 10 months of the year, compared with 28% over the whole of 2021 and just 15% the year before, according to […]