China will buy up most of the world’s food reserves: according to the US Department of Agriculture, 50 percent of wheat and more than 60 percent of rice and maize of all reserves in the world are stored in the republic’s warehouses.
Chinese stocks are expected to only grow, and by 2022, Beijing will have bought up half of its food stocks: in particular, 69 percent of the total amount of maize, 60 percent of rice and 51 percent of wheat. Experts believe that we are talking about an increase in reserves by 20 percent over the past ten years.
These figures are so high that there is a fear of a further rise in food prices. China’s voracious appetite for grain purchases further reduces global supply and creates conditions for prolonged increases in food prices.
