News
22.03.2018
China is boosting the import volume of soybeans
According to the USDA, in 2017/2018 MY Chinese import of oilseeds is projected at a record high level - 102,4 mln tons, which is almost 4 mln tons more than last year's level. At the same time, almost 98,9% account for soybeans.
According to Olga Kharabara, analyst of agricultural markets of the Association “Ukrainian Agribusiness Club”, the key factors in the growth of soybean imports from the side of the Celestial Empire are income growth, urbanization and modernization of the domestic sector of feed and livestock production. «In recent years, China has begun its policy of supporting the Chinese farmers producing this oilseed crop, but the rapid growth of soybeans production is not expected due to the limited availability of arable land»,- says Olga.
It is interesting that 95 mln tons of 97 mln tons of imported soybeans are processed in the middle of the country for further consumption by the livestock sector. Moderate growth in demand is quite expected, as in the country pork production is growing the second year running. Recall that China produces about 55% of the world's production of pork, while satisfying domestic demand and importing additional volumes. In total, according to the results of 2017, Celestial Empire consumed 54,9 mln tons of pork while global production totaled 111 mln tons.
