December 27, 2023

China's demand for soybean feed expected to drop by 9.1 million tonnes this year

China's agriculture ministry has projected that the country's demand for soybeans used as animal feed may drop by 9.1 million tonnes for the whole year of 2023 thanks to the country's efforts to reduce and substitute the use of soybean meal to shore up food safety.

China's animal feed output reached 287 million tonnes in the first 11 months of this year, up 4% year-on-year. However, the use of soybean meal as animal feed dropped by 4.44 million tonnes, or down 11% year-on-year, according to data released by the Ministry of Agriculture and Rural Affairs on December 25.

For the entire 2023, the country's total animal feed consumption is expected to reach 476 million tonnes, of which the proportion of soybean meal used in feed is estimated to drop by 1.5 percentage points compared to a year ago, the ministry said.

Since the beginning of 2023, the ministry has been implementing a three-year action plan for the reduction and substitution of soybean meal in animal feed as part of the efforts to ensure the stable supply of major agricultural products. The measures include adopting new technologies and applications, while adjusting supply chain structure in using protein feed resources such as plants and microorganisms.

Between January and November this year, China's soybean imports grew by 13.3% year-on-year to reach 89.63 million tonnes, according to data released by the General Administration of Customs.

In 2022, China's soybean imports amounted to 91.08 million tonnes, a drop of 5.44 million tonnes from the previous year, marking the second year in a row that saw soybean imports fall.

- Global Times