March 17, 2011
China's self-sufficiency in soy may reach 30%
China may be able to raise its self-sufficiency rate for domestic soy supply to 30% of consumption in three years, according to China Soybean Industry Association.
China imports the bulk of its soy, producing just 22% of its own needs last year. Increasing its soy self-sufficiency would mean lowering reliance on imports. China is the world's largest soy importer.
Raising soy self-sufficiency would require policy support and greater output capabilities, Liu Denggao, vice president of the soybean association said.
"Having a self-sufficiency rate lower than 30%, in the soy trade, we are putting ourselves at the mercy of others," he added.
