Investments in Agriculture Drive China’s Record-Breaking Harvest

China is on track to achieve a record grain production of 700 million tons in 2024, a slight increase of 0.7% from last year’s 695.41 million tons, according to the Ministry of Agriculture and Rural Affairs (MSG). This milestone reflects China’s commitment to enhancing food security for its 1.4 billion citizens through substantial investments in agricultural machinery and seed technology.

Stable Grain Production Driven by Investment in Agriculture

For nine consecutive years, China’s grain production has remained above 650 million tons, with 2024 expected to mark the first time production surpasses the 700 million ton threshold. Despite these gains, China continues to rely heavily on soybean imports, primarily from the U.S. and Brazil, and domestic corn production still falls short of demand. To address these needs, MSG has developed new high-yield soybean varieties with improved oil content and plans to introduce subsidies for soybean processing and imports.

Livestock Market Stabilizes as Pork and Dairy Prices Recover

In the livestock sector, pork prices have remained stable through the fourth quarter, supporting profitability for producers. Prices for pork, beef, and dairy products have gradually rebounded following last year’s oversupply, which was caused by rapid farm expansion and reduced consumption. Increased slaughter rates have slowed livestock production growth, helping stabilize meat and dairy prices.

MSG continues to monitor livestock numbers closely, especially pigs, to avoid oversupply and potential price declines in 2025. As of September, the sow population in China stood at 40.62 million, a figure the government is watching to prevent excess supply that could disrupt pork prices next year.





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