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China has seen an exponential increase of its grain imports last year.
The amount of wheat, corn and rice the country imported from January to November 2012 soared 294 percent year on year.
According to customs figures, China imported a combined total of more than 10 million tons of the three grains in the first 11 months of 2012.
Responding to concerns over its grain supply security, the Ministry1 of Commerce says that grain imports have remained within a reasonable range despite rapid expansion last year.
The Ministry added that such an amount only accounted for less than half of the country's combined annual quota2 for importing the three types of grain.
Moreover, the Ministry argued that it had taken grain supply security and the possible impact on global markets into account when setting the quotas4.
For more on China's grain imports last year and the country's grain supply security, we cross live to Cao Can, CRI's financial commentator
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1 ministry | |
n.(政府的)部;牧师 | |
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2 quota | |
n.(生产、进出口等的)配额,(移民的)限额 | |
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3 tariffs | |
关税制度; 关税( tariff的名词复数 ); 关税表; (旅馆或饭店等的)收费表; 量刑标准 | |
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4 quotas | |
(正式限定的)定量( quota的名词复数 ); 定额; 指标; 摊派 | |
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