Abstract
Research Background
The soybean market experienced huge changes in 2008, witnessing a turning
point from an unprecedented high price level to a sluggish market. Owing to
the shortfall of supply both at home and abroad in 2007, the prices of soybean
in China and foreign countries kept on breaking the records. The Chinese
Government supported domestic soybean production to cope with the situation,
soybean importation policy was adjusted to mobilize supply. As a result, the
supply and demand relationship of the soybean market in 2008/09 went through
big changes.
The soybean industry went through three stages in 2008. Before March 2008, the
domestic soybean price kept on breaking the historical records, and soybean
crushing plants could generate noticeable profit thanks to the price hike of
soy oil and soymeal, whereas the Government had to put a limit on the price of
small-pack edible oil. Since March, the soybean processing industry entered
into a readjusting period, soybean price rose substantially again after a
month of decline, whereas the profit of crushing plants fluctuated as well. In
the beginning of July, soybean price started to fall sharply instead of
rising. The bumper harvest from September to October further pressed down the
price. In order to safeguard the interest of farmers, the Government adopted
protection price to purchase soybeans.
To promote the rational development of soybean processing industry, the
Government promulgated the “Guiding Principles on Promotion of Healthy
Development of Soybean Processing Industry” in August, which had an
in-depth analysis of the current status of the soybean processing industry and
existing issues and provided scientific guiding thoughts and development
goals. This reflects the attention paid by the Government to the industry.
Soybean processing companies also adjusted corporate strategies and
countermeasures so as to deal with the new market and policy environment.
This report comprehensively elaborates China' s soybean seed market, soybean
production, soybean consumption, soybean trade, soybean price and soybean
processing on the basis of an in-depth analysis of the macro policy of the
soybean industry, especially there is an in-depth analysis of the segmentation
of the soybean consumption market.
This report is the product of the soybean research team of BOABC. BOABC
soybean research team has a solid relationship with relevant government bodies
and associations, and also enjoys a sound relationship with the key soybean
processing companies, related industries and enterprises. These resources form
a very valuable professional support to the composition of this report, and
guarantee the accuracy, authoritativeness, scientific proof and
forward-looking of the data in this report. BOABC believes this report is an
important reference for investment companies and soybean processing companies
both at home and abroad, and soy oil and meal traders to make strategic
decisions, and the report is also an important reference for industrial
associations and research institutions.
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