China looks to increase domestic soybean production
Chinese officials plan to boost the 2022 domestic soybean output. Chinese ag minister Tang Renjian told the Chinese Economic Daily over the weekend the country plans to stabilize domestic grain supplies and corn output while expanding soybean and oil crop production.
The minister says China has relatively large gaps with developed countries like the U.S. in terms of per unit yield of corn and soybeans. In November, China proposed overhauling its regulations for genetically modified crops, which reportedly could benefit China’s seed industry and ease food security concerns.
Chinese officials say about 8.4 million hectares or more than 20 million acres were used for soybean production in 2021. China reportedly plans to maintain nearly 120 million hectares or 296 million acres of farmland and vows to turn more than half of that into high-grade farmland, but it’s unclear how much of that farmland will be used for soybean production.