30 Million Tonnes of Soybean Could be Cut from Chinese Import Needs

China’s Xinhua news agency published commentary on Wednesday that the country could reduce its soybean demand by 30 million tonnes by lowering soymeal rations in feed and switching to alternative proteins. The news alert comes after the country issued guidelines last year recommending the reduction of soymeal and corn in pig and poultry feed, seeking to reduce dependence on imports. Last year, soymeal usage in feed dropped 2.4% in China as feed makers in the country can increase the use of amino acids and alternative grains as substitutes. The country did say that boosting its soybean production will be a “major political task” as production declined last year due to more farmers planting corn.

The news alert came off the heels of USDA sharing its disappointment in China for not following through with purchases outlined in the U.S.-China Phase One trade agreement.

Read more on China soybean demand here.