China: Areas under soybean cultivation rise by 9.8%

Lowered state support for corn producers in China, stimulates the oil sector in the country, according to FAS USDA.

Growth of soybean areas over last year is estimated at + 9.8%, and the crop is 14.2 million tonnes (+1.3).

With the rapid increase in domestic consumption of soybeans, it is the reason for the growth of imports In 2017 - 2018. it will be 92.5 million tonnes of soybeans, which is 1.5 million tonnes more than 2016-2017

In 2017. China's economic growth will be 6.7%, and the full-scale modernization of agriculture increases the consumption of soybeans and products from its processing.