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China’s Growing Fondness for Bread Will Help Boost Wheat Imports

  • High prices are now starting to rekindle food inflation
  • China’s imports of iron ore are likely to fall this year
Updated on

China will keep scooping up more and more global wheat supplies after record imports last year, with changing diets in an increasingly affluent society set to be a key driver of future demand. 

Overseas purchases jumped 17% to about 9.8 million tons in 2021, customs data show. Increased use of wheat for animal feed because of high domestic corn prices and a difficult harvest played a major role in pushing up imports.