China is stockpiling food at historically high levels and now has more than half of the world’s maize and other grains. By mid-2022, the country is estimated to hold 69% of the world’s corn reserves, 60% of rice, and 51% of wheat.
At the end of 2021, NIKKEI Asia reported that China, with less than 20% of the world’s population, has managed to stockpile more than half of the world’s maize and other grains, leading to steep price increases across the planet and dropping more countries into famine.1
On January 5, 2022, Bloomberg reported that food prices have hit 10-year highs, causing worldwide concern.2
“Supply-chain bottlenecks, labor shortages, bad weather and a surge in consumer demand are among the factors responsible for the spike. So, too, is a lesser-known phenomenon: China is hoarding key commodities,” Bloomberg’s Adam Minter said.
According to the U.S. Department of Agriculture, China will hold 69% of the world’s corn reserves, 60% of its rice, and 51% of its wheat by mid-2022.
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