China Faces Rising Competition for Soybean Imports

China, the world’s biggest soybean buyer, will face increasing difficulty meeting its surging demand for imports as global competition for the oilseed grows, a Cofco Ltd. official said.

The “oilseed processing industry will face a big problem: raw material supply,” Chang Muping, Cofco’s deputy general manager of oilseed processing, said in slides to be presented at a conference in Guangzhou today. “Crushers inside and outside China are competing for raw material.”