Price of imported grain hikes in 2011

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Category: Ningbo Business

Published: Tuesday, 14 February 2012 11:34

Customs sources said Ningbo has imported 101 tons of grain, a decline of 15 percent year-on-year. The total value stood at $ 560 million, an increase of 16.8%. The average price remained $ 554.5 per ton, an increase of 37.1 percent year-on-year.

In the mode of general trade, the main mode of grain import, Ningbo has imported grain of 832,000 tons, with a drop of 9.6 percent. Except 77.4 tons imported by private enterprises (no imports reported a year earlier), all the rest were imported by foreign-invested enterprises. Brazil and the United States were two biggest importers, with 443,000 tons and 389,000 tons import, a drop of 14.3 percent year-on-year and an increase of 5.6% year-on-year respectively. Imported grain from the two countries accounted for 82.4% of the total grain imports for the same period; In addition, there were 3.8 tons imports from Argentina, while no imports were reported from Argentina a year earlier.

The bulk of imports were beans. In 2011, Ningbo imported a total of 832,000 tons beans, a decline of 5.9 percent year-on-year. This included 178,000 tons cereals and cereal powder, a drop of 41.4 percent year-on-year. Soybean imports reached 831,000 tons, or 82.3% of the total imports, which was a drop of 6 percent over the previous year. 77.4 tons of dry peas dominated the rest of the imported soy products, with no imports reported a year earlier.