China expects a record grain harvest in 2015

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According to the report of Xinhua agency, in 2015 China expects to harvest over 610 million tons of grains. If the forecast is correct, country’s grain harvest will exceed last year’s harvest by 2.9 million tons, which will maintain growth of the gross harvest that lasts for over a decade now.

Grain production growth rate, however, declines each year; in the current year it already amounted to less than 1%. Over intense agriculture rapidly depleting natural resources of China, the limits of intensive, as well as extensive growth of AIC have almost been achieved. Earlier, China as former major exporter of agricultural products, now in recent years is forced to grow its import. The country has already become the world’s largest importer of soybeans and every year is increasing its imports of grains- especially corn.

The Chinese Ministry of Agriculture predicts that within the next decade the level of self-sufficiency in grain will remain high. Nevertheless, this year country’s self- sufficiency level is 97% for grains and 14.1% for oilseeds-considering enormous absolute volume of consumption makes China and its demand one of the most important factors shaping global market of agriculture.