China: Grain and Feed Update

In MY 2024/25, the PRC’s grain output is estimated to reach a record 706.5 million metric tons (MMT), a 1.6 percent increase driven by expanded acreage and higher yields. Corn production is forecast to rise 2 percent to 294.9 MMT with more high-yield varieties, while wheat and rice are forecast to grow to 140.1 MMT and 145.3 MMT, respectively. Lower corn prices boosted corn’s use in feed and industrial applications, reducing reliance on wheat and rice. The corn import forecast is lowered to 14 MMT, while wheat imports are expected to fall 37 percent due to strong domestic production. Driven by demand in regions near India and with an end to India's export restrictions, rice imports are forecast to increase.