Chinese soybean producers will increase production of these oilseeds by about 40% from current levels by 2025. In 3 years farmers from China plan to reach the mark of 23 million tons. It is reported by Reuters with reference to the forecast of analysts from the country’s Ministry of Agriculture.
“Plans for such a significant increase in oilseed production are driven by the government’s desire to increase the country’s self-sufficiency rate this crop as the pandemic continues to disrupt global agricultural supply chains and trade tensions between China and the United States (the second-largest supplier of soybeans) persist,” the report says.
For example, at the end of 2021, China produced 16.4 million tons of soybeans – 16% less than the estimate for 2020 The negative dynamics, according to experts, are explained by the fact that some local farmers have abandoned the cultivation of oilseeds and turned to the production of more profitable crops, especially corn.
It is worth noting that the Chinese government’s plans also include the idea of increasing domestic production of rapeseed by 2025 – up to 18 million tons.
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