BEIJING, Feb. 2 /PRNewswire-Asia/ -- Frbiz.com, one of China's leading B2B search platforms, analyzes the 2010 agricultural market situation.
In 2010, the nation's major agricultural production will maintain stable development momentum, market prices will stay relatively stable, and affected by declining demand and other factors, China's agricultural exports will decline greatly year-on-year. Under state control, rice and wheat prices will be slightly higher, while prices of soybeans, cotton and other products remained stable, and prices of pork and chicken prices rose slightly.
The following is specific analysis of several different products (http://frbiz.com/catalog-01000000-1/Agriculture.html ):
Wheat production increases, prices stable
Frbiz expects that the total output of wheat in 2010 will be about 113.8 million tons, which increase for six years. As the volume of wheat imports surge, wheat supply will still exceed demand.
Wheat prices are up in China. Wheat prices rose from the first to third quarters of 2009, the average price is 1855.9 yuan/ton, up 15.99 percent year-on-year; the average price for high-quality wheat is 1998.9 yuan/ton, up 17.01 percent year-on-year. Frbiz expects that China's wheat prices will remain relatively stable.
Corn production declines, but prices rise continuously
Due to severe drought and other natural disasters, corn production is expected to be nearly 160 million tons, which is less than the previous year. Due to the financial crisis, demand is low, and purchase for feed consumption is not high, so exports are almost stagnant, and there is a short-term oversupply in China's domestic market.
In September of 2009, the average wholesale price of Chinese corn was 1,788 yuan/ton, up 10.0% year-on-year; retail wholesale price was 1,979 yuan/ton, up 3.6% year-on-year. Frbiz analyzes that corn prices will remain high.
Rapeseed production increases, vegetable oil prices down
The 2009 summer harvest output of 12.9 million tons of rapeseed represents an 11.7% increase over the previous year. As cooking oil imports are more and more substantial, supply exceeds demand for Chinese vegetable oils.
Affected by international prices and the Chinese oil market, Chinese cooking oil prices will decrease. Frbiz forecasts that the Chinese oil and cooking oil markets will remain weak.
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