China dominates global import demand for soybeans

China dominates global import demand for soybeans

China has a strong presence in trade for many commodities. China's soybean imports have risen sharply over the past 10-15 years, and now account for more than half of world trade. Over the next decade, China's soybean imports are projected to rise 59 percent to 90 million tons. This increase accounts for more than 80 percent of the projected growth in global soybean imports. China's large oilseed crushing capacity underlies these strong gains in soybean imports. The United States, Brazil and Argentina are the leading exporters of soybeans. In fiscal year 2011, 59 percent of U.S. soybean exports went to China. This chart is found in the ERS report, USDA Agricultural Projections to 2021, OCE-121, February 2012.


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