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And at a press conference this Thursday (11), Lu Jingbo, deputy director of China's National Food and Strategic Reserves Administration, said that the Asian country significantly increased its soybean production to 20 million tons in 2022, the which allowed a surplus of 5 million tons after consumption.
In China, domestic soybeans are mainly used in the production of food intended for human consumption. The imported one is crushed to produce cooking oil and bran for animal feed.
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The Chinese government increased the acquisition of oilseeds produced in its territory with the aim of supporting local producers, as part of its policy to increase production of the commodity.
The country had purchased 4.18 million tons by the end of March, 1.71 million tons more than in 2022, according to Lu.
The Asian country's authorities plan to stabilize and diversify its soybean imports. Currently, Brazil and the United States are the main suppliers of grain to China.
Initiatives to reduce dependence have already been taken, such as the three-year action plan to reduce the use of soybean meal in animal feed.
Source: datagro
