China's pork and soybean imports will increase by more than 40% in the next decade

According to the long-term forecast report released by the US Department of Agriculture in February, by 2024, China's net imports of coarse grains and soybeans may increase by 46% and 40% respectively from current levels.

China has been a net importer of cotton, soybeans, rapeseed, barley, soybean oil and palm oil for at least the past decade, the report said. China has also become a net importer of pork, beef, corn, wheat, rapeseed meal and rapeseed oil since 2008/09 and a net importer of rice since 2011/12.

According to the report, China will remain the world's number one soybean importer in the next decade. By 2024, China's soybean import demand will account for 71% of the world's total imports, up from 65% at present. China's cotton imports will also more than double from the current low level, but still be lower than the record high in 2011/12. By 2024, China and Hong Kong's net imports of beef and pork will increase by 71% and 41% respectively. China is a net exporter of poultry meat, and poultry meat exports may increase by 12% by 2024.

China's recent import trade has had a significant impact on some of the undertraded grains, including barley and sorghum. In the past three years, China has become the world's major sorghum importer, importing 4.2 million tons in 2013/14. Because sorghum is a low-cost alternative to corn, China will remain the main sorghum importer in the next ten years. China imported 2.2 million tons of barley in 2012/13 and doubled to 4.9 million tons in 2013/14. Barley imports may still be huge by 2024. Barley demand comes from the feed industry as well as the beer processing industry.

Source: search pig net http://www.soozhu.com/article/210466/

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