China 'to become major grain importer by 2015'

China, the world's largest food consumer, is expected to become a major grain importer by 2015, head of a global grain trader said in a recent industry forum.

Sunny Verghese, CEO of Olam International Ltd, a Singapore-based grain trader, said because of diminishing resources of land and water, China is on the way to become a major importer of corm, wheat and rice by 2015, according to a report by Bloomberg.

The country has long asserted its bottom line of maintaining its food security by domestically producing 95 percent of its grain consumption. So far imported corn, wheat and rice account for a very small proportion of the total consumption.