Russia-Ukraine conflict has a limited impact on China’s food supply, analysts say
2022-03-03 09:16:00 source：CNBC
March 2, 2022
BEIJING — China’s emphasis on its own food production and security helps mitigate the impact of the Russia-Ukraine conflict on domestic food prices, analysts said.
Notably, China is the world’s second-largest consumer of corn, but only 9.4% of domestic corn consumption in 2021 came from imports, according to Citi. Only 5.9% of China’s wheat consumption last year was imported, the report said.
"The US-China trade disputes, the African swine fever outbreak, and the food price shock of the Covid-19 pandemic have propelled China to further improve self-reliance in food supply," Citi analysts Xiangrong Yu and Xiaowen Jin said in a report Monday.
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