Seed China Monthly Report(Seed China Monthly Report 202501)

Market analysis: On 26 Dec., 2025, the National Food and Strategic Reserves Administration released the latest data showing that the national grain acquisition was expected to reach around 420 million tonnes in 2024, remaining stable above 400 million tonnes for two consecutive years. On 10 Jan., 2025, the Department of Agriculture and Rural Affairs of Sichuan Province issued the Notice on Promoting and Releasing the Leading Varieties and Main Technologies of Agriculture in Sichuan Province for 2025, selecting 50 leading agricultural varieties and 84 main agricultural technologies.

Company dynamics: As of 20 January, 2025, Nongfa Seed Industry, Dabeinong, Fengle Seeds, and Xinjiang Sailimu have successively released their 2024 annual performance forecasts. Among them, except for Xinjiang Sailimu, the other three companies were expected to achieve profitability. On 13 Jan., 2025, Longping High-Tech released the latest record of investor relations activities, detailing its outstanding performance in business segments such as rice, corn, and wheat; in the Brazilian market, it adopted a prudent development strategy, stabilizing its market share.

Policy: On 28 December, 2024, the Standing Committee of the Seventh People's Congress of Hainan Province passed the "Regulations on the Administration of Seed Import and Export of Hainan Free Trade Port", which shall come into effect from 1 January, 2025. On 8 January, 2025, the Department of Agriculture and Rural Affairs of Hainan Province issued a notice, deciding to carry out a spring crop seed market inspection across the province, aiming to implement the seed industry revitalization action, protect the intellectual property of the seed industry, combat counterfeit and substandard practices, and ensure the safety of seeds used in spring agricultural production.

Variety: On 8 Jan., 49 approved new major crop varieties of Hebei Province were publicised. On 15 Jan., China's Ministry of Agriculture and Rural Affairs announced Sichuan's approved main crop varieties for 2024.

Trade: In Dec. 2024, China's corn imports amounted to 340,000 tons, a YOY decrease of 93%; soybeans import volume was 7.94 million tons, a YOY decrease of 19%. In December, the total imports of wheat, rice, sorghum, and barley amounted to 1.655 million tons, with the annual total imports reaching 35.535 million tons.

The USD/RMB exchange rate in this Report is USD1.00=CNY7.1879 on 2 Jan., 2025, sourced from the People's Bank of China.