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China to grow its soybean market

China to grow its soybean market

Last year’s decrease in soybean production in China to be offset in 2022 with an additional 666,667 hectares of planting. 

By Andrew Joseph,

Soybean growers—watch out: China is looking to increase its soybean crop.

The largest soybean grower in China, the province of Heilongjiang, will be increasing its soybean crop area by a whopping 666,667 hectares in 2022, according to its official news agency.

China had, in 2021, decided to grow more corn because it saw greater profits available, which meant a drop in soybean production—some 16.3 percent.

While that may have meant better options for global soybean producers re: sales, the 2022 news of increased bean production means more competition for the market.

The China agriculture ministry said that the country should, for the upcoming season, stabilize its grain production and look to boost its production of soybean and oilseeds.

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