Soybean imports from US soar
Many Chinese companies have turned to cheaper soybeans from the United States in the past three months to avoid potential shipping delays from South America.
The orders, mainly from September through December, were about 4.5 million tons higher than China’s soybean imports from the US for the entire 201213 market year, the US Soybean Export Council said.
Soybeans are widely used in China for cooking oil and animal feed.
“China’s rising demand for soybeans is mainly driven by a change in people’s dietary habits. They have shifted away from having mostly grains on their plates to having more oil and meat,” said Shen Guiyin, deputy director of the research center of rural economy of China’s Ministry of Agriculture. (Photo 4)