November 27, 2023

China's oilseed crushing at 133 million tonnes in 2022/23 marketing year

Oilseed crushing in China reached a record in the 2022/23 marketing year at 133 million tonnes.

Added to the amount is a large recovery in oil imports of up to 12.69 million tonnes and continued growth in meal demand.

In relation to the supply of the crushing industry in China and among the main oilseeds, soybeans depend the most on imports.

In the 2022/23 season, soybean production in the country was 20 million tonnes and imports reached 100 million tonnes (10 million tonnes more than in the 2021/22 season), while 83 % of supply (not including initial stocks) was obtained from imports, with the main suppliers and competitors of this product being the United States and Brazil.

Record production in Brazil was the main factor driving China's purchases.

- Rosario Stock Exchange (Argentina)