![]() What about supply chains? While there are still supply chain issues domestically and internationally, much of the havoc between 20 has been worked out. Here in the rich world we are complaining about pricing, but the global poor stand the risk of famine. State Department’s Office of Sanctions Coordination, also had a good amount to say about China, going on the record to state: “China has been a very active buyer of grain, and it is stockpiling grain… at a time when hundreds of millions of people are entering the catastrophic phase of food insecurity… It would have been much better to see that grain going to Egypt, in the Horn of Africa, and other places.” The purchase was on the heels of China’s largest corn purchase since May of 2021 last week, a purchase that totaled 1.084 million tons.” The USDA confirmed a flash sale Monday that totaled 1.020 million metric tons of corn by China: 680,000 tons of the purchase are for old crop, with the remaining 340,000 for delivery in the 2022/2023 marketing year. corn to start the week, and market analysts say food security concerns are driving the country’s increased appetite for commodities. As Nikkei Asia reported last year: “Less than 20% of the world’s population has managed to stockpile more than half of the globe’s maize and other grains, leading to steep price increases across the planet and dropping more countries into famine.”įurthermore, as AgWeb reported in April of this year: “China made another large buy of U.S. ![]() China’s neighbors, Japan for one, disagreed. The hoarding has been going on since last year, but at the time, many denied that it was happening. As you can see, prices have been exponentially increasing over the decades-the last thing we need is this stockpiling by China. I’ve attached a chart visualizing the rising costs of food since 1913. The evidence is now overwhelming, and the ripple effect can be felt worldwide. Because China is hoarding grain, food prices will only continue to rise. This is a bold attempt by China to increase domestic food security and reduce food reliance on the United States and Australia, but it also is a global and direct threat to every consumer. Department of Agriculture estimates that China will hold 69% of the world’s corn reserves, 60% of its rice, and 51% of its wheat.” It is rumored that 40 percent of April’s grain exports from Ukraine went to China.Īs Bloomberg recently reported: “By mid-2022, the U.S. In fact, as Russia was blocking trade routes, China was importing exports from those trade routes. One reason food costs are rising is China. Global grain-trading strategies are currently in motion, thereby driving up food costs, while many profit at the expense of others. “The food of the Chinese people must be made by and remain in the hands of the Chinese people.” -Chinese leader Xi Jinping
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