China: Oilseeds and Products Annual
China continued to dominate the global oilseeds market in MY13/14, especially in soybeans where it took 65 percent of total world exports, and 30 percent of total U.S. soybean production. Following record oilseed purchases of 75.6 million tons in MY13/14, Post estimates the long-term trend of rising imports will continue and reach 77.3 million tons in MY14/15, and 82.2 million tons in MY15/16. Urbanization, rising incomes, and modernization of the feed and livestock sectors have fostered oilseed consumption, forecast at 137 million tons in MY15/16. China’s soybean imports are estimated to set records of 73 million tons in MY14/15 and forecast at 77.5 million tons in MY 15/16. Due to a combination of policy constraints and stagnating yields, soy production in China is forecast to decline to 11.7 million tons in MY15/16. Soybeans are the only major agricultural crop in which China is dependent on imports for the Lion’s share of its supply.
