Global Soybean Imports Expected To Grow By 30% By 2027 With China Leading The Way
World soybean trade is projected to rise rapidly during the next 10 years according to USDA’s Agricultural Projections to 2027, climbing 48 million tons (30 percent) to 205 million tons by 2027.
China, the world’s leading soybean importer, is expected to increase imports by 41 million tons over the projection period.
China’s soybean imports have risen steadily since the late 1990s. In 2017, China accounted for about 64 percent of world soybean trade.
China’s imports are projected to increase from 102 million tons in 2018 to 143 million tons in 2027, accounting for 86 percent of the total increase in trade.
China’s share of global soybean imports would reach nearly 70 percent by 2027 if the projections are realized.
The projections assume that China will continue to meet rising demand for edible vegetable oils and protein in feed by importing soybeans, while supporting domestic production of food and feed grains.
China continues to add oilseed-crushing capacity that contributes to continued growth in soybean imports.
The leading international soybean suppliers are Brazil and the United States, both of which should benefit from the additional demand from China and other trade partners.