China will import more soybeans and pork this year after the new corona virus has broken out and African swine fever (ASF) has decimated the Chinese national herd of pigs.
China's soybean imports are estimated at 922.48 million tons by the Beijing Ministry of Agriculture in 2020. It could reach 96.62 million tons in 2025 and 99.52 million tons in 2029. According to a video conference this morning.
Pork imports are estimated at 2.8 million tons for 2020 (+ 32.7% on the previous year).
China is the world's largest importer of soybeans from which the soybean meal and soybean oil is made. China is also the world's largest consumer of pork. The ASF has decimated China's herd of pigs by 40% last year, raising the country's prices to new highs in February. This was helped by the fact that the corona crisis delayed a planned build-up of the herd.
In the past few months, China has already increased its pork imports so that the supply in the country is maintained. Pork consumption in China will decrease by 5.6% in 2020 to 42.06 millionTons, according to experts in the Ministry. The slaughter, however, will decrease by 7.8% to 501.19 million animals. Pork production in China will decrease to 39.34 million tons. In 2022, however, an increase to 54 million tons is expected.
In the longer term, imports of pork are likely to decline again as more beef and mutton is consumed.
China's national soybean production will increase by 3.9% in 2020 to 18.81 million tons. In total, however, 85.98 million tons of soybeans are processed in China. The consumption of soybean meal continues to grow and in the next 10 years you will have to rely on imports of the feed.
The cultivation of corn and the yield of this grain will increase in China in 2020. A harvest of 260 million tons is expected. The rice harvest will remain stable at 200 million tons over the next 10 years.
Source
Hansa Terminhandel GmbH
