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China Becomes Largest Foreign Buyer of Canadian Wheat
Western Canadian farmers are reaping the benefit of the Chinese economic juggernaut with sales of 1.8 million tonnes of wheat and over 350 000 tonnes of barley in 2003-04, the Canadian Wheat Board's (CWB)President and CEO announced on Aug. 5.
This was the largest CWB sales program to China in almost a decade, Adrian Measner told reporters gathered for the CWB's annual end-of-crop-year news conference. The crop year runs from August 1 to July 31.
High volume sales to China are projected to continue in the years ahead as wheat consumption in the country climbs and the area seeded to wheat decreases.
China is expected to import between five and ten million tonnes of wheat annually over the next decade.
"China is also becoming a very quality conscious buyer," Measner said, noting that over 50 per cent of the wheat China bought in 2003-04 was high-grade spring wheat, compared to just 20 per cent eight years ago.
"Given the quality and consistency of western Canadian wheat, we are faced with some exciting opportunities to expand our market share in China in the coming years."
The Canadian domestic market remains the biggest overall buyer of western Canadian wheat and barley with Japan, the Philippines and Mexico rounding out the top five.
MGR Archive 7.8.2004
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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