Soya Bean Market in China
Market Overview
In 
, after two years of decline, there was significant growth in the Chinese soya bean market, when its value increased by % to $. Overall, the total consumption indicated a buoyant increase from 2007 to : its value increased at an average annual rate of +% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2008 with an increase of % year-to-year. Over the period under review, the market reached the peak level in and is expected to retain growth in the near future.
In value terms, soya bean production soared to $ in estimated in export prices. Over the period under review, the total production indicated a remarkable increase from 2007 to : its value increased at an average annual rate of +% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2016 indices. The pace of growth appeared the most rapid in 2008 when the production volume increased by % against the previous year. Over the period under review, production hit record highs in and is likely to see steady growth in years to come.
The average yield of soya beans in China reached tonnes per ha in , picking up by % compared with 2019 figures. The yield figure increased at an average annual rate of +% over the period from 2007 to ; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2008 when the yield increased by % y-o-y. Over the period under review, the average soya bean yield hit record highs in and is expected to retain growth in years to come. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
The soya bean harvested area in China expanded sharply to ha in , picking up by % compared with 2019. In general, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. Over the period under review, the harvested area dedicated to soya bean production reached the maximum in and is likely to see gradual growth in the near future.
, after two years of decline, there was significant growth in the Chinese soya bean market, when its value increased by % to $. Overall, the total consumption indicated a buoyant increase from 2007 to : its value increased at an average annual rate of +% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2008 with an increase of % year-to-year. Over the period under review, the market reached the peak level in and is expected to retain growth in the near future.In value terms, soya bean production soared to $
in estimated in export prices. Over the period under review, the total production indicated a remarkable increase from 2007 to : its value increased at an average annual rate of +% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2016 indices. The pace of growth appeared the most rapid in 2008 when the production volume increased by % against the previous year. Over the period under review, production hit record highs in and is likely to see steady growth in years to come.The average yield of soya beans in China reached
tonnes per ha in , picking up by % compared with 2019 figures. The yield figure increased at an average annual rate of +% over the period from 2007 to ; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2008 when the yield increased by % y-o-y. Over the period under review, the average soya bean yield hit record highs in and is expected to retain growth in years to come. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.The soya bean harvested area in China expanded sharply to
ha in , picking up by % compared with 2019. In general, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. Over the period under review, the harvested area dedicated to soya bean production reached the maximum in and is likely to see gradual growth in the near future.Consumption
In , the amount of soya beans consumed in China rose sharply to tonnes, increasing by % on the previous year. Over the period under review, consumption posted a prominent increase. The growth pace was the most rapid in 2010 with an increase of % year-to-year. Over the period under review, consumption hit record highs in and is likely to see steady growth in years to come.
The size of the soya bean market in China rose markedly to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a prominent expansion from 2007 to : its value increased at an average annual rate of +% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 when the market value increased by % against the previous year. Soya bean consumption peaked in and is likely to see gradual growth in the immediate term.
, the amount of soya beans consumed in China rose sharply to tonnes, increasing by % on the previous year. Over the period under review, consumption posted a prominent increase. The growth pace was the most rapid in 2010 with an increase of % year-to-year. Over the period under review, consumption hit record highs in and is likely to see steady growth in years to come.The size of the soya bean market in China rose markedly to $
in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a prominent expansion from 2007 to : its value increased at an average annual rate of +% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 when the market value increased by % against the previous year. Soya bean consumption peaked in and is likely to see gradual growth in the immediate term.Market Forecast
Driven by increasing demand for soya bean in China, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tonnes by the end of .
% for the period from to , which is projected to bring the market volume to tonnes by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in China increased significantly over the last thirteen years (from % to %).
% to %).Trade Balance
China remains a net importer of soya bean; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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