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Agricultural Development Bank of China
Industry

Impact of COVID-19 pandemic on Chinese agricultural product market limited: analysis

April 21, 2020


Abstract : The Chinese market of agricultural products is relatively stable and has been affected minimally by the COVID-19 pandemic, except for several varieties with high dependence on international trade, according to an analysis.

BEIJING, April 20 (Xinhua) -- The Chinese market of agricultural products is relatively stable and has been affected minimally by the COVID-19 pandemic, except for several varieties with high dependence on international trade, according to an analysis made by the Agricultural Information Institute of the Chinese Academy of Agricultural Sciences.

China's food supply is guaranteed. Its grain production has been stable, with the annual output standing at over 650 million tonnes for five consecutive years, and China is fully self-sufficient, said Xu Shiwei, a researcher from the institute.

According to the China Agricultural Outlook (2020-2029) released by the China Agricultural Outlook Conference 2020 held online on Monday, China's total annual grain output reached a record high of 663.84 million tonnes in 2019.

The imports of rice and wheat only accounted for 1.6 percent and 2.7 percent of China's annual consumption, respectively, and the self-sufficiency rate reached over 95 percent, said Xu, who is also the president of the China Agricultural Outlook Conference 2020.

As a result of continuous adjustment of planting structure, the planting area of corn in China decreased slightly in 2019, but the per-unit yield increased, and the total output continued to increase.

As China increased the planting area of soybeans, the output continued to grow. The supply of domestic edible soybeans expanded, and the dependence on imports gradually decreased, Xu said.

Fruits, vegetables and aquatic products have always been the main export products of China. The export of some products may be restricted, but this can make up for the demand of domestic consumers for international products, Xu said.

Affected by the African swine fever, China's pork production capacity declined significantly in 2019. However, with the implementation of a series of policies and measures, pig production in China continues to recover and is expected to be close to its usual level by the end of 2020, Xu said.

At the same time, other meats, such as poultry and fish, can make up the gap of pork production to some extent, he said.

During the period of the severe epidemic, the price of some agricultural products, such as meat and vegetables, in some areas rose temporarily. But with the recovery of transportation and resumption of production of enterprises, the market price of agricultural products has basically returned to normal, Xu added. Enditem

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Keyword: agricultural product

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