News

China will remain the leading importer of soybeans over the next 10 years

Soybean
Oil & Fats
China
Market & Price Trends
Published Feb 27, 2024

Tridge summary

China is expected to continue leading global soybean imports over the next decade, with its imports projected to increase from 100 million tons this season to 138 million tons by 2033/34, making up about 62% of all global imports, according to the U.S. Department of Agriculture (USDA). The USDA also forecasts a 25.3% growth in global soybean trade to 221.6 million tons over the next 10 years, driven by increased food demand in regions such as Africa, the Middle East, Latin America, Southeast and West Asia.
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

China will remain the world’s leading importer of soybeans in the next 10 years, and demand for the oilseed from the Celestial Empire will grow, according to analysts at the U.S. Department of Agriculture (USDA). According to their estimates, in the current season the volume of soybean imports to the PRC will be about 100 million tons, and already by 2033/34 MY, when the country will accumulate about 62% of all global imports of the crop, this figure will grow to 138 million tons. “Demand from China will contribute to a steady increase in soybean trade over the next 10 years, with total global imports of the oilseed growing by 44.8 million tons (+25.3%) to 221.6 million tons,” the USDA said. The agency expects that the regions ...
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