Soybean imports set to slide in H2 as domestic meat demand weakens

Soybean imports will shrink in the second half as demand declines, the result of a slowdown in meat demand and high import volumes in the first six months.

Already the world's largest soybean importer, China imported 34.2 million metric tons of the crop in the first half, mainly from the United States. That was up 24 percent year-on-year.

Wang Suiyuan, vice-president of the China Feed Industry Association, said that weaker economic growth and declining domestic demand for meat products are affecting the soybean market. The crop is a key component of animal feed.