China will import 103 million tons of soybeans in 2024/25, according to USDA forecast
Soybean
China
Market & Price Trends
Published Mar 26, 2024
Tridge summary
The USDA forecasts that China's soybean imports will remain steady at 103 million tons for the 2024/25 season, mirroring the previous year's figures. This consistent demand is fueled by the competitive pricing of soybean meal for animal feed, sustained interest from the poultry industry, and growth in aquaculture, which compensates for reduced demand from the swine sector. Furthermore, China is expected to process 98 million tons of soybeans in 2024/25, a slight increase from 97 million tons in 2023/24, indicating a modest rise in the need for animal feed and highlighting the ongoing importance of soybeans in China's agricultural landscape.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
According to information released by the United States Department of Agriculture (USDA) in Beijing, China is planning to import 103 million tons of soybeans in the 2024/25 commercial year, remaining at the same level estimated for the previous season, 2023/ 24. The report points out that the increase in the use of soybean meal in feed, due to price competitiveness, together with stable demand from the poultry sector and the progressive growth of aquaculture, will compensate for the lower demand from the swine sector. Furthermore, the projection also indicates that China intends to process 98 million tons of soybeans in 2024/25, an increase from the ...
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