China's soybean imports will rise in 2020, according to the Ministry of Agriculture, an official said today, Wednesday, without giving further details
Soybean shipments from the US fell in 2019 as a result of the China-US trade dispute, while imports from Brazil and other countries rose and supplies were guaranteed, said Tang Ke, Director of the Market and Information Department of the Ministry of Agriculture and Rural Affairs
China purchased 88.51 million tons of soybeans in 2019, up from 88.03 million tons in 2018, but down 7% from 95.53 million tons in 2017 (before the outbreak of the trade war).
China's demand for soybeans was also slowed by African swine fever, which cut the country's pig herd by more than 40%.
Beijing has taken a series of measures to boost pig production and increase the supply of pork, the country's most popular meat.
Ahead of the Chinese New Year (25 January 20), a peak season for pork production, the country's most popular meat, China's soybean market is expected to grow. January 20), a peak season for pork demand, pork prices are not expected to rise further.
Pork consumption after the Lunar New Year is expected to drop, and supply and demand will be stable around the holiday, Wang Junxun, an official with the Ministry of Animal Husbandry and Veterinary Affairs, told reporters
Source
HANSA Terminhandel
