Can African soybeans help ease China’s reliance on US to feed insatiable demand?

Published 2023년 11월 22일

Tridge summary

South Africa has made its first-ever export of soybeans to China following a protocol signed last year granting access to the Chinese market. The agriculture minister referred to the successful shipment as a testament to collaboration between the government and private sector. While Africa has the potential to become a major source of grain supplies for China, the chief economist of the Agricultural Business Chamber of South Africa suggests that Africa's contribution to China's soybean imports is likely to remain small for the foreseeable future.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

South Africa’s first export of soybeans to China left Durban in October, made possible by last year’s signing of a protocol with Beijing granting access to the Chinese market. The size of the shipment was not specified. According to the South African agriculture department, 18 companies and 162 storage facilities have been approved to export soybeans to China. “The successful shipment is a testament to the possibilities of growing the cereal and oilseed sector through successful collaboration between the government and private sector,” Agriculture Minister Thoko Didiza told the South African press. China has the world’s largest number of pigs – more than 450 million, as of April – producing about 50 million tonnes of pork each year. Soybeans are processed into a variety of food products, but they are also used to make swine feed. The China National Grain and Oils Information Centre estimates that the country will import 97 million tonnes of soybeans in the 2023-24 marketing year. ...

Source: UkrAgroConsult