China began to buy wheat on the world market in large quantities amid a shortage of the domestic crop. The difficult situation arose due to heavy rains.
At the moment, as Bloomberg writes with reference to market participants, China has already bought up almost all available export stocks of Australian wheat.
In addition, Beijing is considering additional opportunities for mass purchase of high-quality milling wheat from other major producers, including the U.S., France and Canada.
In the first days of October, as the publication notes, China booked impressive batches of wheat from these countries. Experts linked China's rush demand for wheat with the fall in the exchange value of wheat to a three-year low, which occurred in late September.
Earlier Bloomberg wrote that Egypt will buy about half a million tons of French and Bulgarian wheat.