Although the relationship between China and Australia has deteriorated in recent years, wheat imported from Australia has innovated high.
According to Bloomberg reported on November 21, according to Chinese customs data and Bloomberg calculations, Australia exports in the first 10 months of this year accounted for 63%of China's wheat imports, which is much higher than 28%of the whole year of 2021And 15%in 2020.
According to the tonnage, wheat imported from Australia from January to October this year increased by more than doubled to 4.97 million tons year-on-year.This is also the highest level since 2004.
At present, due to the bad weather in the main production area, and the Ukrainian war hinders the export of Black Sea Grain, global wheat supply has been restricted.
When Sino -Australian relations deteriorate in Australia's restrictions on foreign investment and accusing Beijing's interference in internal affairs, the booming development of the two countries is particularly prominent.The appeal of Australia's investigation of crown disease in 2020 to anger the Chinese side, and relations between the two countries have turned sharply.In response, China has adopted punitive trade restrictions on Australian products from coal to barley, lobster and wine.
Bloomberg reported that there were signs that last week, Australian Prime Minister Albanis and Chinese President Xi Jinping realized the tension after the first face -to -face meeting between the leaders of the two countries since 2019.Even if there are some trade restrictions, China is still the largest export market in Australia, accounting for more than one -third of its total shipments.
