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(Bloomberg) China is scouring the globe for wheat, with annual imports on track to hit record levels, as buyers scoop up cheap supplies after heavy rains damaged the domestic crop.Most Read from BloombergIsrael Latest: Hamas Leaders Targeted as Ground War LoomsApollo CEO Marc Rowan Demands UPenn Leaders Quit Over ‘Antisemitism’IMF Caught Off Guard as China Strikes Sri Lanka Debt DealGoldman Sues Malaysia as 1MDB Settlement Dispute EscalatesHouse Republicans Pick Scalise as Speaker Nominee in
China is scouring the globe for wheat, with annual imports on track to hit record levels, as buyers scoop up cheap supplies after heavy rains damaged the domestic crop.
China has sought to encourage the growth of domestic infant-formula manufacturers but Beijing’s attempts to boost the country’s birth rate have failed.