China is the second largest seed market globally, with a market value of $19 billion. The country is self-sufficient in rice and wheat seeds and is nearly self-sufficient in corn and soybean seeds. The production of hybrid corn seeds is expected to increase by 31% in 2022/23 due to expansion in planting area, while hybrid rice seed production is estimated to increase by 5%. Soybean seed production is projected to increase by 17%.