Our Magazine
Brussels Morning Online Newspaper
Saturday, January 23, 2021
No Result
View All Result
  • Home
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Online Newspaper
  • Home
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Online Newspaper
No Result
View All Result
Home Economy

Chinese demand drives up EU grain prices

Nikola Kiš by Nikola Kiš
30 November 2020
in Economy
Chinese demand drives up EU grain prices

Sam's Club Store of Wal-Mart Group Storage Supermarket attracts consumers to buy daily necessities from the world. Chinese consumer prices rose 2.3% over the same period.

Share on FacebookShare on Twitter

Brussels (Brussels Morning) China’s increased demand is driving up EU grains prices and exerting pressure on depleting supplies as traders try to keep up with export demand, Reuters reported Friday.

Prices could continue rising until demand drops or new harvests around the world increase supply, according to analysts and traders. China has been buying more grain on global markets to rebuild its pork industry in the wake of a swine disease epidemic, among other reasons.

At the same time, cereal crop harvests in the EU were lower this year and the bloc’s main maize supplier Ukraine suffered from drought, while the EU’s rival wheat exporter, Russia, did not ship as much as expected. Food prices should not be affected, according to traders, as key suppliers have advance cover, commodity prices are dampened by other supply chain costs and competition between supermarkets is fierce.

However, they warn that businesses directly upstream could be affected since grain processors might have to curb buying if the pressure to export from the EU continues. Chinese demand has upended the market, according to one unnamed French trader, who points to the fact that increased exports have driven up prices. France’s sales of barley to China have increased due to recent friction between Beijing and Australia, its main barley supplier. 

While France harvested about 25% less wheat and barley this year, exports of these cereals to China are set to increase above annual levels. This opens the way to competition between other EU producers to export more wheat to Algeria, which traditionally has relied on being supplied by France.

Because of drought, maize imports from Ukraine dropped approximately 17% in 2020/2021, hitting the EU’s import-reliant livestock industry as rising prices drive processors towards other cereals.

Agritel Consultancy has cited the importance of rationing out wheat demand in Europe in the coming months and beyond, while awaiting the South American maize harvest in spring and the European wheat harvest in summer.

Tags: Chinaincreased demandMain-Slider
Nikola Kiš

Nikola Kiš

Nikola is Brussels Morning political affairs reporter, covering Germany, France, and Italy. Based in Zagreb, he is a translator with 18 years of experience reporting on political and business affairs.

Latest post

Ombudsman launches investigation into Commission’s COVID-19 vaccine contracts

Ombudsman launches investigation into Commission’s COVID-19 vaccine contracts

8 hours ago
Fears violence will return to Iraq ahead of elections

Fears violence will return to Iraq ahead of elections

9 hours ago

Most Read

  • Italy’s cannabis industry could rival the legal market in the US

    Italy’s cannabis industry could rival the legal market in the US

    0 shares
    Share 0 Tweet 0
  • Can Armenia and Azerbaijan win peace together?

    0 shares
    Share 0 Tweet 0
  • How Emiratis shape the European defense agenda

    0 shares
    Share 0 Tweet 0
  • How EU trade and investment deals can fight climate change

    0 shares
    Share 0 Tweet 0
  • The groundbreaking significance of the EU’s European Public Prosecutor’s Office

    0 shares
    Share 0 Tweet 0

Subscribe
Facebook Twitter Youtube LinkedIn

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

Category

  • Ambassador’s Corner
  • Commission
  • Council
  • Culture and Society
  • Diplomacy
  • Economy
  • EU Institutions
  • Europe
  • Europe With Transparency
  • Features
  • In Depth
  • Member States
  • Middle East Eye
  • Opinion
  • Our pick
  • Parliament
  • Place de la Bourse
  • Southeast Europe
  • Sustainable Perspective
  • The American Angle
  • The Macro-Economist
  • Uncategorised
  • US Elections
  • World

More info

  • About Us
  • Advertising
  • Cookies Policy
  • Contact Us
  • FAQ
  • Jobs

Brussels Morning Newspaper - All Rights Reserved © 2020

No Result
View All Result
  • Home
  • EU Institutions
    • Parliament
    • Commission
    • Council
  • Europe
  • World
  • Member States
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Sustainable Perspective
    • The American Angle
    • Southeast Europe
  • Magazine

Brussels Morning Newspaper - All Rights Reserved © 2020

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.