Commodities
Chinese Soybean Appetite Is Fading, Meat Producer Says
- Economy is slowing in world’s largest soybean importer
- Chinese eating habits also are contributing to shift in demand
Farmers harvest soybeans in Helong, China.
Photographer: China Photos/Getty ImagesThis article is for subscribers only.
Chinese soybean demand growth is expected to wane in the next few years amid slower population growth and a change in the nation’s consuming habits, according to meat producer Wellhope Foods Co.
Soybean purchases by the world’s largest importer should stabilize at roughly 100 million metric tons at least for the next five years, Vice President Sun Lige said in an interview during a US Soybean Export Council conference in New York. That’s 1 million metric tons more than the US Department of Agriculture’s projection for the 2023-24 season.