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Demand for Soybean Meal Predicted to Grow

16 March 2010

CHINA - Demand for soybean meal in China may grow in the second quarter of 2010, it has been predicted.

Agricultural information firm Shanghai JC Intelligence said consumption of the oilseed will be boosted in China, which is already the world's biggest importer of soybeans, Bloomberg reported.

"I think in April to May we will see demand for soybean meal picking up," Cao Hongrun, a feedstock buyer for Shunde Wanghai Feed, told the news provider.

China could soon produce its own genetically modified (GM) soy crops in a bid to aid food security and increase global competitiveness.

The Ministry of Agriculture revealed hopes to grow several types of crops that are resistant to pests and diseases, Reuters reported earlier this month.

More than 20 GM crops have been approved for field trials in China as part of the plan to reduce food import needs in the future.

TheCropSite News Desk

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