China’s food imports to reach $140 bn in 2023

F.P. Report

BEIJING: China has become the largest food importer in the world, and the total amount of food imports to China is estimated to reach $140 billion in 2023.

This is as per 2023 China Food Import Report first released in 2023 China Import Food Summit. The Summit was hosted by China Chamber of Commerce of I/E of Foodstuffs, Native Produce and Animal By-Product, CEN reported on Thursday
As a supporting activity of the ongoing 6th China International Import Expo (CIIE) since 2018, this year’s China Import Food Summit is themed by “Innovation, Cooperation and Sustainability”.

“The Chinese government attaches great importance to the development of the food and agricultural product industry.

While ensuring food safety, we will further open the market, give play to the role of international trade, and take the diversification strategy of agricultural product imports to meet Chinese people’s growing expectation for a better life.

China will continuously optimize the food supply structure, promote high-level opening-up, deepen bilateral and multilateral economic and trade cooperation to jointly safeguard the stable and healthy development of the global food trade,” said Sheng Qiuping, Member of the CPC Leadership Group of the Ministry of Commerce and Vice Minister in the summit.

Bai Lu, Deputy Director-General, Bureau of Import and Export Food Safety, General Administration of Customs of the People’s Republic of China remarked that China Customs will keep expanding the varieties of imported food and the registered number of overseas food production enterprises.

Additionally, improving clearance efficiency with new technologies was also emphasized by Bai.

Data from 2023 China Food Import Report shows that China’s food imports have been increasing steadily in recent years, and the compound annual growth rate reached 12.3% from 2013 to 2022.

In 2022, the number hit $139.62 billion, up 3.1% year-on-year, of which nearly one third comes from BRICS countries including Brazil, Russia, India, South Africa, and the new members including Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, United Arab Emirates. (INP)