STAT Communications Ag Market News

China's Soy Food Market Expanding

WASHINGTON - Sep 4/17 - SNS -- Demand for food grade soybeans is growing in China, with smaller companies now starting to import product because of difficulties readily satisfying their needs from the country's farmers.

In a recent report on the sector, the U.S. agricultural attache for China said the country's top 50 soy food manufacturers processed approximately 1 million metric tons (MT) of food-grade soybeans into $2.6 billion worth of soy food products.

In China, food-grade soybeans refer to non-genetically modified soybeans intended for processing into food ingredients (that do not include cooking oil) for human consumption. Industry observers note that, as a result of price advantages and purchasing convenience, many soy food processors in China's coastal provinces are sourcing imported soybeans to produce tofu, soy milk and other foods.

Specific data on the broader utilization of imported soybeans are not available, however the agricultural attache notes increasing evidence that imported food-grade soybeans are needed to meet Chinese consumer demand for soy-based food products.

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