US soybean shipments hit new high
China will import a record quantity of soybean from the US during the 2013-14 market year (Sept 2013 - Aug 2014) because of strong domestic demand for feed, edible oil and meat.
China, the biggest international buyer of US soybean, agreed to import 27.5 million metric tons of soybean from the 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 and meat,” said Zhang Xiaoping, director for China at the US Soybean Export Council.
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.