China Cereals and Oils Information Center: Forecast 116.4 million tons of new soybean supply in China in 2021/22

The China Cereals and Oils Information Center released the “Monthly Report on Oil and Oil Market Supply and Demand” on February 9, predicting that China’s new soybean supply in 2021/22 will be 116.4 million tons, including 16.4 million tons of domestic soybean production and 100 million tons of imported soybeans.

The estimated annual soybean oil consumption is 99.35 million tons, an increase of 200,000 tons or 0.2% year-on-year, including 1 million tons of domestic soybeans and 88.35 million tons of imported soybeans; the estimated consumption of soybeans for food and industry is 16.05 million tons, a year-on-year decrease of 1.28 million tons tons, and the annual soybean supply and demand balance is 110,000 tons.