News Snapshot:
BEIJING — China's emphasis on its own food production and security helps mitigate the impact of the Russia-Ukraine conflict on domestic food prices, analysts said. Notably, China is the world's second-largest consumer of corn, but only 9.4% of domestic corn consumption in 2021 came from imports, according to Citi. Only 5.9% of China's wheat consumption last year was imported, the report said. "The US-China trade disputes, the African swine fever outbreak, and the food price shock of the Covid-19 pandemic have propelled China to further improve self-reliance in food supply," Citi analysts Xiangrong Yu and Xiaowen Jin said in a...
