March 8, 2011

 

China accounts for half of global soy protein trade

 


China's soy protein exports comprise 50% of the global soy trade, the China Soybean Industry Association (CSIA) said.

 

According to CSIA, two companies 93 Grain and Oil Group entered the soy food processing industry last year while Chinatex Corporation is planning to follow suit.

 

However, the CSIA added that Chinese soy protein export prices have dropped to around RMB20,000 (US$3,045)/tonne while the import price has hovered between RMB30,000-50,000 (US$4,568-7,614)/tonne. The organisation says this is due to intense competition between local exporters.

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