Sep. 21 – China is the largest soybean importer in the world, Chinese soybeans importers play an important role in expanding the global soybean key producers China market opportunities. According to statista, China imported 92 million metric tons of soybeans, valued about 4.2 billion U.S. dollars in 2019/20.
What is Driving the China Soybean Imports?
Soybeans are mainly composed of protein which has many usages. Soybean as basic ingredients which widely practice and consume in traditional Chinese cooking, such as: unfermented food uses of soybeans include soy milk, tofu and tofu skin. Fermented soy foods include soy sauce, soybean paste which are ingredients in many packaged meals, particularly in meat and dairy substitutes, soy source is unquestionably essential to the favour of Chinese cuisine. In addition, soybean is a significant and inexpensive basis ingredients for the animal feeds industry in China, feed manufacturers dependent on soybeans for its protein rich feed production, to supply animal feeding farmers and farmers in China. They are processed into soybean curd, soybean cooking oil and other soybean food products, and the pomace is an important livestock feed. China has the tradition of grown edible soybean. However, with the world’s sized Chinese population of 1.42 billion, and the magnitude of the market demand and its growing middle class. Soybeans are foodstuffs in China for both human consumption and animal feeding which is crucial for the Chinese market. The forceful driving power for China soybean imports obviously is China’s resources insufficiency which there is limited suitable land spaces available for growing soybeans, the market demand and domestic supply are not unmatched, and import is an alternative solution. China’s soybeans demand and influence is now impacting the global soybeans industry.
Statistics of China Soybean Imports 2016-2020
Despite fluctuation of soybean China imports from year to year, the main stream of China’s domestic soybean demand remain, China consumes around 60% of globally traded soybeans, and predictable soybean China imports amount to million metric tons up. Soybeans and soybean products China imports will continue dominate the global soybean import total volume in the foreseeable future. From statistics facts shown, between 2016-2020 China soybeans imports be inclined to fluctuation. Specifically, in 2016, almost 84 million metric tons of soybeans were imported to China, about eight times as much as the import volume in 2000 (in 2017, China imported a total of 95.53 million tons of soybeans; In 2018, China imported a little less but still reached over 82 million tons in the first 11 months). In 2019/20, China imported 92 million metric tons of soybeans, while the global soybean import volume amounted to around 153 million metric tons. China’s domestic soybean oil demand was forecasted to exceed 23 million metric tons by 2026
Equivalent to Importing Land & Water Resources
China is the world’s biggest consumer of soybeans at 100 million tons per year, but relies on imports for 90% of this figure. The key reason for China soybeans imports heavily is that China’s arable land for soybeans production is serious limited which implies deeply that even if all the arable lands in China are used for soybean production, it would still not be enough to supply the need of China soybeans consumption at 100 million tons per year volume. According to the Heilongjiang Academy of Agricultural Sciences, the average yield of soybeans on the same area of land in China is about 40% that of the U.S., this makes Chinese soybeans about 10% more expensive than imports, an increase that is reflected in the costs of soybean products. Obviously, China soybean imports is a practical solution and remedy to make up to the insufficient soybean farm size in China. In fact, from China’s ecological and economic points of view, importing soybeans is equivalent to importing land and water resources. Under the resources deficiency for China soybeans production, the solution of soybeans imports to China can help the country conserve land. It is a great choice when the demand and supply face such challenges.
China’s Soybean Imports Boosted by Renewed Feed Demand 2020
China’s soybean Imports is a hot topic and becomes world attention recently, there are different reports concern soybeans China imports from various media, such as: Demand for oilseeds drives China’s soybean imports; China increases Brazilian soybean imports; China’s soybean imports hit monthly high; Soybean Russia-China closer cooperation 2020-2024 – soybean China imports, etc. All those reporting eyes on soybean demand in China, growing soybean China imports and soybean China market opportunities. As the global outbreak of the COVID-19 virus is having a major impact on international trade. The effect on the soybean sector is generally smaller than on other agricultural sectors. Particularly, China’s swine industry is moving forward with considerable recovering, plus poultry sector further development, demand for soybean feed is mounting, China’s soybean imports for the first eight months of the year totaled 64.74 million tons, a 15% jump compared to the previous year, Reuters reported. By comparison, China’s marketing year 2019-20 soybean import forecast jumped 6 million tons, to 84 million tons, and China Imports of soybean in marketing year 2020-21 are forecast to total 91 million tons, up 5 million tons from the previous March 2020. There is an China-Russia soybeans import alliance already proposed in which China with the intent to increase soybeans imports from Russia to at least 3.7 million tonnes by 2024, China daily reported recently. Soybeans from Brazil arrived in China May through July 2020. China’s soybean imports are up 18% compared to a year ago, as large volumes arrived from Brazil, according to Reuters.
Chinese Importers for Soybean and Soybean Products in China
As statistics shown that China’s domestic soybean oil demand was forecasted to exceed 23 million metric tons by 2026, up to now, in 2019/20, China already imported 92 million metric tons of soybeans, there will be more to come, including soya-bean oil and its fractions. In fact, China domestic soybean industry is working hard to catchup, the soybean production is on the rise as a result of steady aid ratio and higher soybean values throughout the sowing season. China marketing year 2020-21 soybean production is forecast at 18 million tonnes, a 0.7 million increase compared to the previous year, according to China market insiders. However, the supply of China domestic soybeans production is still legging far away from the demand, China soybean imports is unavoidable alternative which opens up China market opportunities to global soybeans major producing countries, soybean and soybean products exporting businesses, soybean traders, etc. Discover the latest market trends and sources of future market growth for the soybean industry in China with DCCC comprehensive China importers List & China market Report over soybean China market opportunities. If you’re in the soybeans industry, our Chinese importers’ list will benefit you budget and profit while connecting you with the top soybeans country’s buyers , key soybeans importers, main soybeans distributers in China. Chinese importers is produced by DCCC – the organization assists foreign companies to connect with reliable Chinese importers, distributors for Consumers Goods, Food-Beverages in China. For international soybean, soybeans products, as well as soya-bean oil and its fractions producers, soybean imports/exports companies search for the market opportunities in China, DCCC provides you with a comprehensive List of Chinese Importers for Soybeans , to request your copy available.