China: Oilseeds and Products Update

China’s swine sector recovery and poultry production growth are expected to push up soybean meal use for feed during the coming marketing year. Soybean imports are forecast at 91 million metric tons (MMT) in marketing year (MY) 20/21 and estimated at 90 MMT in MY19/20. Domestic soybean production is forecast to reach 18 MMT in MY20/21 in response to a stable subsidy rate and higher soybean prices during the sowing months in 2020. Good weather conditions ensured a moderate gain of rapeseed production in MY20/21. Increased soybean crushing will constrain vegetable oil imports in MY20/21.

China: Oilseeds and Products Update