Analysts estimate that the Chinese authorities have acquired 50% of the world's food reserves.
According to data from the US Department of Agriculture, China is expected to expand its global food stocks in the near future. The country currently holds 50% of the world's wheat and more than 60% of its rice and maize stocks.
Preliminary forecasts show that Chinese stocks are set to multiply in 2022. Experts believe that China's purchases of food stocks will reach 50% of the total amount. China currently has 69% of the globe's maize reserves, 60% of its rice, and 51% of its wheat. Experts estimated that this represented an increase of 20% in reserves over the past 10 years.
Against the backdrop of high figures, analysts are worried about an upcoming surge in food prices. They believe that China's dominance in grain purchases is contributing to a serious reduction in the global grain supply. This is causing food prices to soar over the long term.
The Food and Agriculture Organization of the United Nations expects global food import prices to hit record highs shortly. As a result, the volume of global imports will reach $1.75 trillion, the UN stresses.
