Demand from aquaculture feed producers helped ensure China’s soy imports hit an historic high in 2020, totaling 100 million metric tons (MT), up from one million MT imported in 1995.
In an interview with SeafoodSource, U.S. Soybean Export Council (USSEC) China Director Xiaoping “Jim” Zhang said China’s uptake of soy represents a major win for the United States, which is one of the country’s top three soy suppliers (behind Brazil, which holds a 65% market share, but in front of Argentina).
China now imports 80% of its total soy usage, and the USSEC has sought to promote use of U.S. soy and oilseed in aquaculture feed through the sponsorship and hosting of training programs for Chinese feed mills and marine farmers.
"... The use of soy in aquafeed for sure will be on the increasing path," says Zhang. "I have no idea how big the increase will be, but even with very conservative estimates of a 1%t increase, it will be an additional 100,000 MT of soybean meal, or an equivalent of 130,000 MT of soybeans.
Read the full interview here.
