|China farmer planting intentions, 2013|
|Source: National Bureau of Statistics survey.|
Corn area's increase comes despite a decline in corn prices in the first quarter of 2013. Most prices were up from a year ago, but corn prices during the first quarter of 2013 were down 2.1 percent from 2012. Rice prices were up 7.1 percent and rice was up 5.5 percent. Hog prices were also down this year from their high level in early 2012. Other livestock prices were also up sharply. Pork output was up 2.8 percent from last year.
In China's investment-driven economy there's not much investment in agriculture, so agriculture's share of the economy is shrinking fast. Agricultural (primary industry) GDP (at constant prices) was up 3.4 percent during the first quarter of 2013, less than half the rate of overall GDP growth of 7.7 percent. Fixed asset investment was up 20.9 percent, but the agricultural sector accounted for just 1.6 percent of it (this doesn't include investment by rural households but they generally don't invest much in agriculture). Output of "above scale" industrial firms was up 9.5 percent, almost three times the growth rate for agriculture.
|China agricultural price changes, first quarter, 2013|
|Commodity||Percent change from last year|