Home>>Business
Last updated at: (Beijing Time) Saturday, February 14, 2004

Last year saw China's soybean import hit a record high in history

One of China's main agricultural imports - soybean, after a temporary falloff in 2002, hit a new record in 2003 and for the first time exceeded domestic production.


PRINT DISCUSSION CHINESE SEND TO FRIEND


One of China's main agricultural imports - soybean, after a temporary falloff in 2002, hit a new record in 2003 and for the first time exceeded domestic production.

Latest statistics released by Chinese Customs revealed that China's soybean import in 2003 reached 20.74 million tons �C the highest in recent years and 83.3 percent higher than the previous year. Import value topped US$5.4 billion �C 118.2 percent up. Affected by serious natural disasters such as low temperatures and draughts China's soybean production in 2003 was about 16.5 million tons. However China's yearly soybean consumption is about 30 million tons. Therefore to meet the demand, more than 12 million tons of soybean had to be imported.

China is one of the main soybean production countries in the world. At the beginning of the 1990s as a pure soybean-export country China's yearly export once exceeded 1 million tons. Now, however, soybean has become one of the produces witnessing the biggest import size. According to data provided by Chinese Customs China's soybean import began to increase in 1999. In 2003 the size reached the largest and for the first time exceeded domestic production. Insiders predict that global soybean production will see somewhat increase this year, but demand will grow even further. As China's soybean demand continues to grow import will keep on rising.



By People's Daily Online


Questions?Comments? Click here
    Advanced






China's Soybean Imports from US to Rise

China Able to Lift Soybean Production

China signs US$1.59B worth of import contracts with US





 


CEO of Indian Wipro Industries: Chinese software industry can't catch up with India's ( 6 Messages)

US media urge gov't not to surrender China market to EU ( 19 Messages)

UK monitors Chinese mission in the UN ( 4 Messages)

Why is it hard to stop the US dollar falling ( 2 Messages)

Japan decides to further cut back economic aid to China ( 46 Messages)



Copyright by People's Daily Online, all rights reserved