August 26, 2004

China Becomes World's Biggest Soybean Importer

China has become the world's No. 1 soybean importer, as a result of overall soybean production and rising demand in the country in recent years.

According to Chang Ruzhen, chairman of the Soybean Committee of China Crops Society, China's current annual demand for soybean is placed at 22 million tons. But the country's actual annual output of the crop hovered around 15 million tons.

China produced 16.3 million tons of soybeans last year. But the country imported another 20.7 million tons of the crop.

The Chinese government has resorted to a range of measures to boost soybean production and raise sown acreage of the crop. These include a scheme of reinvigorating soybean production in northeast China, which is a leading grain production base in the country.

The scheme has resulted in marked improvement in the quality of soybeans, as well as increased output and sown acreage.