US SOYBEAN SHIPMENTS HIT NEWHIGH
Lifted by the strong domestic demand for feed, edible oil andmeat, China will import a record quantity of soybean fromtheUS during the 201314 market year (Sept 2013 – Aug 2014).
China, the biggest international buyer ofUS soybean, agreed to import 27.5 million metric tons of soybean fromthe US during the 2013-14 market year, up 22 percent on a year-on-year basis.
“China’s rising demand for soybeans is mainly driven by a change in people’s dietary habits. They have shifted from grains to more oil andmeat,” said Zhang Xiaoping, director for China at theUS Soybean ExportCouncil.
Soybeans are widely used in China for cooking oil and animal feed. China’s soybean imports rose by 10 percent to 63.38 million metric tons in 2013 from a year earlier, according to the General Administration of Customs.
“The demand for soybeanmeals, edible oil, and soybean-based fish and with regard to bio-technology,” he said.
China has returned 887,000 tons of US corn shipments tainted with a genetically modified strain not approved by the Ministry of Agriculture since last October.
These corn shipments were found to contain the unapproved MIR162, a strain of hog feed will providemany opportunities forUS soybean exporters. We anticipate huge potential in these sectors,” Zhang said.
AlanKemper, director of the American SoybeanAssociation, said China has a limited soybean-growing capability to meet itsmeat production demand, prompting the country to import more soybeans and corn from theworld market.
As China’s staple grain production base hasmoved fromsouth to its northeastern region, it is difficult to increase China’s soybean output within a short period because farmers in the northeast cannot get more land or convert rice and corn farmlands to grow soybean. With rising farming equipment prices and limited arable land, the cost of raising domestic output has also becomehigher. insect-resistant transgenic corn, according to theGeneral Administration of Quality Supervision, Inspection and Quarantine. Contact the writers at email@example.com and firstname.lastname@example.org