Chinese aquaculture sector's demand for soy keeps ticking up

Published 2021년 3월 15일

Tridge summary

In 2020, China's soy imports reached a record high of 100 million metric tons, largely driven by demand from aquaculture feed producers, making it the world's largest market for soybeans. The U.S. Soybean Export Council (USSEC) has been instrumental in promoting the use of U.S. soy and oilseed in Chinese aquaculture feed through various initiatives, including sponsoring training programs for feed mills and marine farmers, and introducing the in-pond raceway system of aquaculture. Despite the COVID-19 pandemic's initial impact, the demand for soy-based aquafeed in China is expected to keep rising in 2021, with the total consumption of soy products for aquaculture estimated at around 10 million MT in 2019.

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

Original content

Demand from aquaculture feed producers helped ensure China’s soy imports hit an historic high in 2020, totaling 100 million metric tons (MT), up from one million MT imported in 1995. In an interview with SeafoodSource, U.S. Soybean Export Council (USSEC) China Director Xiaoping “Jim” Zhang said China’s uptake of soy represents a major win for the United States, which is one of the country’s top three soy suppliers (behind Brazil, which holds a 65 percent market share, but in front of Argentina). China now imports 80 percent of its total soy usage, and the USSEC has sought to promote use of U.S. soy and oilseed in aquaculture feed through the sponsorship and hosting of training programs for Chinese feed mills and marine farmers. It has also promoted an in-pond raceway system (IPRS) of aquaculture, and recently scored a win after helping a yellow catfish (Pelteobagrus fulvidraco) farm in Jiangsu Province, operated by Liyang Qianmatang Chenqiang Special Aquaculture, to obtain Best ...

Source: Seafoodsource