China continues to diversify corn imports

China continues to reduce its dependence on traditional corn suppliers by actively diversifying its import sources. The policy is aimed at strengthening the country’s food security and reducing risks associated with disruptions in global trade.

In the 2021/22 marketing year, China sourced almost all of its 21 mln tons of corn imports from the United States and Ukraine, with about 70% coming from the US alone. However, since late 2022, the import structure has shifted rapidly. Brazil has been the biggest beneficiary after gaining access to the Chinese market, sharply increasing corn exports thanks to more competitive prices.

China has also expanded purchases from other suppliers. Following the signing of a phytosanitary protocol, imports from Myanmar exceeded 300 thsd tons in the 2022/23 season—more than in the previous three years combined. The country also doubled imports of Russian corn to about 200 thsd tons and imported significant volumes of corn from South Africa for the first time.

US corn has become less competitive because of higher prices and tighter supplies. According to USDA, average US corn prices for June–November delivery were more than $30/t higher than Brazilian offers. At the same time, Ukraine maintained a significant share of the Chinese market by exporting about 5.5 mln tons of corn under the Black Sea Grain Initiative during the 2022/23 season, although its export potential later declined as production and stocks tightened.

Analysts say the diversification of corn imports has become part of China’s long-term food security strategy. The COVID-19 pandemic, the war in Ukraine and global trade disputes highlighted the risks of relying on a limited number of suppliers, prompting Beijing to build a broader network of trading partners to secure feed grain supplies.

A similar strategy is being pursued by other major Asian corn importers, including South Korea, Japan and Vietnam. Expanding the supplier base helps reduce the risk of supply disruptions and strengthens food security against geopolitical and climate-related challenges.

Tags: Vietnam, USA, South Africa, imports, Japan, Myanmar, Ukraine, China, corn, Brazil, South Korea