June 2, 2005

Optimistic outlook for US soybean exports to China

According to Benny Cooper, United Soybean Board (USB) International Marketing Chair, China's strong economic growth increases the need for high-quality soybeans and soy products. A survey by the American Soybean Association (ASA) indicates that 75 percent of Chinese feed producers think of US soymeal as superior to meals from other sources.

US soybeans help feed China's hog population per year, which is the world's largest. The US hog population per year is only 165.5 million compared with China's 1.5 billion. China's pork industry consumes 8.5 million tonnes of soymeal annually.

China also accounts for 70 percent of the world's aquaculture production and the potential of soy-based feeds for aquaculture is enormous.