{"id":61486,"date":"2022-01-15T16:18:45","date_gmt":"2022-01-15T21:18:45","guid":{"rendered":"https:\/\/olduvai.ca\/?p=61486"},"modified":"2022-01-15T16:18:45","modified_gmt":"2022-01-15T21:18:45","slug":"china-stockpiling-food-at-historically-high-levels","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=61486","title":{"rendered":"China stockpiling food at historically high levels"},"content":{"rendered":"<h3><a href=\"https:\/\/watchers.news\/2022\/01\/14\/china-stockpiling-food-historically-high-levels\/?fbclid=IwAR2Xkjh8VyRcb5dahGTDdeseimHPiMAxU3BQ2rxRrisS8ElZcnUU1TfckiI\">China stockpiling food at historically high levels<\/a><\/h3>\n<header><img decoding=\"async\" class=\"full\" title=\"China stockpiling food at historically high levels\" src=\"https:\/\/watchers.news\/data\/thumbs\/798_296\/2022\/01\/dalian-food-silos-january-2022-fs.jpg\" alt=\"China stockpiling food at historically high levels\" \/><\/p>\n<\/header>\n<aside>\n<div id=\"candy-zone-3\" class=\"candy candy-a1\" data-zone-id=\"3\">\n<div><strong>China is stockpiling food at historically high levels and now has more than half of the world&#8217;s maize and other grains. By mid-2022, the country is estimated to hold 69% of the world\u2019s corn reserves, 60% of rice, and 51% of wheat.<\/strong><\/div>\n<\/div>\n<\/aside>\n<div class=\"article-holder\">\n<div class=\"article-content\">\n<div class=\"article-text\">\n<p>At the end of 2021, NIKKEI Asia reported that China, with less than 20% of the world&#8217;s population, has managed to stockpile more than half of the world&#8217;s maize and other grains, leading to steep price increases across the planet and dropping more countries into famine.<sup>1<\/sup><\/p>\n<p>On January 5, 2022, Bloomberg reported that food prices have hit 10-year highs, causing worldwide concern.<sup>2<\/sup><\/p>\n<p>&#8220;Supply-chain bottlenecks, labor shortages, bad weather and a surge in consumer demand are among the factors responsible for the spike. So, too, is a lesser-known phenomenon: China is hoarding key commodities,&#8221; Bloomberg&#8217;s\u00a0Adam Minter said.<\/p>\n<p>According to the U.S. Department of Agriculture, China will hold 69% of the world\u2019s corn reserves, 60% of its rice, and 51% of its wheat by mid-2022.<\/p>\n<p>China is maintaining its food stockpiles at a &#8216;historically high level,&#8217; said\u00a0Qin Yuyun, head of grain reserves at the National Food and Strategic Reserves Administration.<\/p>\n<p>&#8220;Our wheat stockpiles can meet the demand for one and a half years. There is no problem whatsoever about the supply of food.&#8221;<\/p>\n<p>The projections represent increases of around 20 percentage points over the past 10 years, and the data clearly shows that China continues to hoard grain.<sup>1<\/sup><\/p>\n<p>In 2005, China was importing food (not including beverages) for less than $10 billion USD.<\/p>\n<p>In 2010, the number rose to more than $20 billion USD and continued\u00a0rising year-over-year until $80 billion USD in 2019 and nearly 100 billion in 2020, up to 4.6 times from a decade before.<\/p>\n<p>References:<\/p>\n<p><sup>1<\/sup>\u00a0China hoards over half the world&#8217;s grain, pushing up global prices &#8211;\u00a0<a href=\"https:\/\/asia.nikkei.com\/Spotlight\/Datawatch\/China-hoards-over-half-the-world-s-grain-pushing-up-global-prices\">NIKKEI Asia<\/a><\/p>\n<p><sup>2<\/sup>\u00a0One Reason for Rising Food Prices? Chinese Hoarding &#8211;\u00a0<a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2022-01-05\/one-reason-for-rising-food-prices-chinese-hoarding\">Bloomberg<\/a><\/p>\n<p>Featured image: Food silos at Dailan, China on January 11, 2022. Credit: Copernicus EU\/Sentinel-2, TW<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>China stockpiling food at historically high levels China is stockpiling food at historically high levels and now has more than half of the world&#8217;s maize and other grains. By mid-2022, the country is estimated to hold 69% of the world\u2019s corn reserves, 60% of rice, and 51% of wheat. At the end of 2021, NIKKEI [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[7],"tags":[5752,130,319,32494,29743,32493,3237,32495],"class_list":["post-61486","post","type-post","status-publish","format-standard","hentry","category-survival-2","tag-bloomberg-news","tag-china","tag-food","tag-food-reservesthe-watchers","tag-food-stockpiling","tag-supply-chain-bottlenecks","tag-supply-chains","tag-teo-blaskovic"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61486"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61486\/revisions"}],"predecessor-version":[{"id":61487,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61486\/revisions\/61487"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}