中国大豆进口需求日益增长

China's growing appetite for soybean imports

在过去的2015年里,中国煤炭进口大幅下滑,铁矿石进口增速放缓,而中国大豆的进口量依然高歌猛进。

In 2015, whilst Chinese seaborne coal imports slumped and growth in iron ore imports slowed, China's soybean imports continued to expand robustly. Growth in soybean imports so far in 2016 has remained firm, with total imports on track to reach almost double the 2009 level this year. This robust growth has been driven by a number of different factors over recent years. Looking ahead, soymeal and soy oil are expected to continue to take a growing share in feed formulation and vegetable oil use owing to price advantages. There has also been some positivity recently in the domestic breeding industry, with improving pork prices leading some pig farmers to replenish stocks, which could further boost soybean demand in the short-term. With the Chinese diet also remaining heavily pork-based, and government targets to expand pork production in 2016-20, the outlook for further growth in China's soybean imports appears to remain bright.