China’s wheat imports to cool on local output gains, slowing demand

China’s wheat buying spree is likely to slow in the second half of 2024 as higher domestic output and declining flour consumption reduce import demand in the world’s biggest consumer of the grain. Estimates for China’s July-to-December wheat imports range between 2 million and 4 million tons, according to a survey of one China-based and two Singapore-based grains traders, down from 4.09 million tons shipped in the second half of 2023. “There is lack of interest from Chinese wheat importers ever since supplies from this year’s harvest hit the market,” said one of the Singapore-based traders, who works for an international company that ships grain to China. China’s demand is unlikely to be as strong as we have seen in the past.” China’s output of summer wheat rose 2.7% from a year ago to a record 138.22 million tons, with near-perfect growing conditions boosting quality.