China: Oilseeds and Products Annual
China’s demand for oilseeds and oilseed products will continue to climb in MY19/20, albeit at a slower pace due to African Swine Fever (ASF). The projected MY19/20 demand recovery is attributed to increased meal demand as chicken, cattle and aquaculture production is forecast to grow to meet rising consumer demand for alternative animal proteins. Although pork remains the preferred meat for most Chinese consumers, the ASF outbreak has bolstered demand for chicken, beef and seafood out of unfounded health fears, price considerations and a desire to diversify the diet. Domestic production will remain sluggish, and China will continue to require oilseed imports to meet demand. Soybean imports are forecast to reach 91.5 MMT in MY19/20, up from an estimated 88 MMT in MY18/19 but lower than MY17/18 imports of 94.1 MMT.
