China to import up to 110 mi tons of soybeans/year by 2030

China’s soybean imports are expected to hover around 100 million tons in 2021 and continue to be between 100 and 110 million tons per year through 2030, according to the China Agricultural Outlook 2021-2030 Executive Summary, released this Wednesday, August 25, by CNA (the Brazilian confederation of agriculture and livestock producers) and by InvestSP, which has an office in Shanghai.

Outlook 2021-2030 is the result of the 8th edition of the China Agricultural Outlook Conference held in Beijing in April this year and was produced by MARA (China’s ministry of agriculture and rural affairs) and CAAS (China’s academy of agribusiness sciences). The document provides an overview of agribusiness and the Chinese government’s outlook for the next ten years in terms of the country’s main agricultural crops: rice, wheat, corn, soybeans, oilseeds, cotton, sugar, vegetables, potatoes, fruits, pork meat, poultry meat, beef, lamb and mutton, dairy, eggs, fish, and animal feed.

Regarding soy, the import volume should remain close to the current level and grow around 1% per year, until reaching 110 million tons in 2030. Production will grow at an average rate of 0.7% per year in the period, until reaching 20.87 million tons.

As a result, meeting the country’s domestic soy consumption of approximately 127 million tons in 2030 will depend mostly on imports. In 2020, China purchased 100.33 million tons of soybeans abroad, 13.3% above the 2020 volume.

Source: Canal Rural

To read the full original article, visit the link:

https://www.canalrural.com.br/noticias/ate-2030-china-importara-ate-110-milhoes-de-t-de-soja-ano-projeta-cna/

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