World soybean trade is projected to rise rapidly during the next 10 years according to USDA’s Agriculture Projections to 2027, climbing 48 million metric tons or 30% to 205 million metric tons by 2027. China, the world’s leading soybean importer, is expected to increase imports by 41 million metric tons over the projection period. China’s soybean imports have risen steadily since the late 1990s. In 2017, China accounted for about 64% of world soybean trade. China’s imports are projected to increase from 102 million metric tons in 2018 to 143 million metric tons in 2027, accounting for 86% of the total increase in trade. China’s share of global soybean imports would reach nearly 70% by 2027 if the projections are realized. The projections assume that China will continue to meet rising demand for edible vegetable oils and protein in feed by importing soybeans, while supporting domestic production of food and feed grains. China continues to add oilseed-crushing capacity that contributes to continued growth in soybean imports. The leading international soybean suppliers are Brazil and the U.S., both of which should benefit from the additional demand from China and other trade partners. This chart is drawn form data in the USDA report, USDA Agricultural projections to 2027, released in February. (Source: USDA Ag Projection to 2027)
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