China's soybean production in 2023 stood at 18.75 million metric tons. The forecasted production levels from 2024 to 2028 indicate a steady increase, with a year-on-year growth of approximately 1.8% to 2.0%. From 2024 onwards, production is expected to rise from 19.09 million metric tons to 20.45 million metric tons by 2028, reflecting a compound annual growth rate (CAGR) of approximately 1.7% over this period.
Future trends to watch for include:
- Technological advancements in agriculture that can improve yield and efficiency.
- Government policies and support for soybean farming.
- Impact of climate change and resource availability on production levels.
- Global demand and pricing trends influencing domestic market dynamics.