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Strong Prospects for China Oilseeds

12 March 2012
USDA Foreign Agricultural Service

CHINA - Market year (MY) 12/13 total oilseed production is forecast at 56 million metric tons (MMT), a slight adjustment of one percent from last year's estimated 56.6 MMT.

Total oilseed demand will stay strong, particularly for soybeans, with MY 12/13 consumption forecast at 118 MMT up from an estimated 113.6 MMT in MY 11/12.

Consumer affluence will drive soybean imports to 59 MMT in MY 12/13 to meet increasing demand for animal products and vegetable oils.

Rising consumer affluence is driving demand for animal and fish protein.

In response, advancements in concentrated animal and aquatic production, growth in the feed industry and expansion in the crush sector are spurring demand and need for imports to supply feed protein sources, such as soybean and rapeseed meal.

Total oilseed imports in MY 12/13 are forecast to reach 60.9 MMT from 57.5 MMT in MY 11/12.

China is the world’s largest oilseed consumer. Population growth and dietary demands overwhelm stagnant domestic production capabilities, leaving China dependent on foreign suppliers, particularly the U.S., Brazil and Argentina, to meet its supply gap.

Further Reading

- You can view the full report by clicking here.

March 2012

TheCropSite News Desk

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