China: Oilseeds and Products Annual

Rising feed demand coupled with limited availability and higher prices for protein-rich substitutes is expected to increase China’s soybean imports to a record forecast 100 million metric tons (MMT) in Marketing Year (MY) 22/23. Estimated soybean imports for MY 21/22 are reduced to 95 MMT from the previous Post estimate on continuing weak demand in the swine and poultry sectors and announced plans to auction state reserves. Oilseed production is forecast to increase slightly to 62.4 MMT in MY 22/23 on strong domestic prices and government incentives.