英闻天下——139 Grain Imports Increase Three Folds in 2012

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　　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.

 

　　Imports that exceed the quota are subject to much higher tariffs³ than those within the quota.

 

　　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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