Chinese soybean farmers have urged the government to come to their rescue as they are grappling with an influx of cheaper, genetically-modified (GM) soybeans from overseas. They expressed worries that over-reliance on soybean imports — as high as 80% — could put the country’s cooking oil and animal feed industries, which use soybeans as major material, in despair…Full-text article: Global Times Mar 2013

Key points

  • From 2009 to 2012, Heilongjiang province’s soybean planting area declined from 4.7 million to 2.53 million hectares. In general, the province accounts for 1/3 of China’s annual soybean output
  • Some farmers in Heilongjiang are switching from soybean to corn production due to better sale prices.
  • Prices for imported soybeans were given at 4,400 yuan ($707) per ton, while domestic soybeans sold for 4,600 yuan [US$740] per ton

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