China Heads for Record 2024 Grain Harvest of 700 Million Tons: Reuters

China is on track to harvest a record-breaking grain crop exceeding 700 million metric tons in 2024, according to a senior agriculture ministry official, reports Reuters. This represents a 0.7% increase from the previous year's harvest of 695.41 million tons, based on data from the National Bureau of Statistics.

Speaking at a press conference in Beijing, Zhang Xingwang, vice minister for agriculture and rural affairs, emphasized the significance of this achievement, stating, "China's grain output has been stable for nine consecutive years at more than 1.3 trillion jin and this year is forecast to exceed 1.4 trillion jin for the first time." This equates to 650 million tons and 700 million tons, respectively.

This milestone reflects China's ongoing efforts to enhance its food security. Despite being the world's largest grain producer, the country remains reliant on imports, particularly soybeans from Brazil and the United States, to meet the needs of its 1.4 billion people.

To bolster domestic production, China has invested heavily in agricultural technology, including farm machinery and advanced seed varieties. The government is also implementing measures to encourage soybean production, such as processing subsidies and increased purchases for state reserves.

Despite the record harvest, Zhang cautioned that "national food supply and demand is in a tight balance" and stressed the need for continued vigilance in ensuring food security. He highlighted ongoing challenges, such as the reliance on imported soybeans and the need to expand corn planting.

In addition to grain production, the ministry is closely monitoring the livestock sector, particularly pork production. After grappling with oversupply and record-low prices for pork, beef, and dairy in recent years, China has implemented measures to reduce herd sizes, leading to a moderation in prices. However, authorities remain attentive to potential price fluctuations, particularly in the pork market, as increased breeding sow productivity could lead to an oversupply of piglets in the coming year.

As of the end of September, China had approximately 40.62 million breeding sows, according to the ministry.