China saw record oilseed crushing in the 2022/23 season

Considering the supply of the crushing industry in China, among the main oilseeds, soybeans depend the most on imports. In the 2022/23 season, soybean production in China was 20 Mt and imports reached 100 Mt (10 Mt more than in the 2021/22 season), i.e. 83 % of the supply (not including initial stocks) was obtained from imports, with the main suppliers and competitors of this product being the United States and Brazil.

Record production in Brazil, with a cheap supply and negotiating its soybeans at historically negative premiums, was the main factor driving China's purchases.