Forecast: Corn Domestic Consumption in China

China's domestic corn consumption in 2024 is forecasted to be 311.42 million metric tons, up from the 2023 actual consumption of approximately 305 million metric tons. This represents a year-on-year growth of nearly 2.1%. In subsequent years, from 2025 to 2028, the consumption is projected to grow steadily, reaching 340.3 million metric tons in 2028. The average annual growth rate, or CAGR, over the five-year period from 2023 to 2028 is roughly 2.2%.

Key trends to watch for include:

  • Urbanization and rising middle-class spending power driving increased demand for meat and, consequently, animal feed, a major use for corn.
  • Technological advances in agricultural practices which could either boost domestic corn production or affect import dynamics.
  • Government policies impacting agricultural subsidies, trade tariffs, and renewable energy mandates (e.g., ethanol production).

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