May 2000 Edition
Soybean Imports by China Accelerate in 1999/00, U.S. Share to Reach 63 Percent
Chinas soybean import demand in the 1999/2000 marketing year (Oct-Sept) is expected to reach 5.9 million tons, a new record high and up 55 percent from last season. The dramatic increase is primarily due to a switch from soybean products (meal and oil) to soybeans. For the 1998/99 marketing year China imported a total of 3.85 million tons of soybeans, 1.4 million tons of soybean meal and 950,000 tons of soybean oil. Expectations are that China will import only 400,000 tons of soybean meal in 1999/2000, down almost 72 percent from 1998/99, and 725,000 tons of soybean oil, down 24 percent from last year. The United States has captured most of the increase in Chinas soybean trade and preliminary data indicate that our market share will be more than 62 percent, up from 53 percent last year. The reductions in soybean meal and soybean oil trade affect mostly Brazil and Argentina which continue to maintain a strong hold on the soybean product trade.
Approved by the World Agricultural Outlook Board/USDA