Tuesday, September 6th 2016
Courtesy of Brownfield Ag News
China has announced plans to dramatically increase oilseed production over the next four years. The country’s National Development and Reform Commission released a plan to increase soybean production 54 percent from 2014 levels by 2020. Soybean planting is forecast to increase almost 40 percent. Rapeseed production is expected to increase by 10 percent and peanut production by 13 percent. The announcement comes after a policy to reduce corn plantings in China to rebalance their domestic grain market. The increase in production is needed to feed the country’s poultry and pork industries. China is the largest chicken and pork producer in the world, and consumption for meat and edible oils continues to grow with rising incomes.