In China, local farmers continue to gradually reduce their dependence on imported soybeans, increasing the volume of oilseed production within the country.
Thus, a representative of the Ministry of Agriculture of the People’s Republic of China on Wednesday said that the sown areas under oilseeds in 2022 increased to 10.26 million hectares (+ 1.82 million hectares by 2021) – this is the highest value for the country since 1958.
The volume of the gross harvest of culture at the end of the past calendar year also increased significantly – immediately by 3.89 million tons, to 20.28 million tons.
High temperatures and rainy weather in northeast China have also contributed to higher soybean yields, said Ma Wenfeng, an analyst at Beijing Orient Agribusiness Consultant Co Ltd.
Victor Martins, senior risk manager at HedgePoint Global Markets, believes that China’s dependence on soybean imports will grow significantly this year. The news of this is extremely positive for Brazilian farmers, who expect a record harvest of beans.
Recall that China is the world’s largest importer of soybeans – about 100 million tons of this crop are imported into the country annually, and about 20 million tons are produced in the domestic market.
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