As of 2023, China's soybean imports stood at 99.93 million metric tons. The forecast data predicts a gradual increase in soybean imports from 2024 to 2028, with expected growth from 100.91 million metric tons in 2024 to 104.76 million metric tons in 2028. This trend indicates a year-on-year growth rate between approximately 0.97% to 0.92%, reflecting stable demand. Over the five-year forecast period, the Compound Annual Growth Rate (CAGR) is predicted at around 0.95%.
Future trends to watch for include:
- Potential changes in Chinese domestic agricultural policies that could impact import volumes.
- The influence of international trade agreements on soybean supply and prices.
- Climate change impacts on global soybean production.
- Shifts in consumer preferences and dietary trends towards plant-based products.
