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The international market pricing power to domestic soybean loss

Number of visits: Date:2014-05-04

Soybean originated in our country, our country soybean has 4700 years of history, about in the late 19th century Europe and the United States from China to cultivated soybean technology, and in all over the world in the 1930 s.At present, China's soybean producing area mainly distributed in the northeast three provinces, north of north-central hebei, shanxi, shaanxi and the northwest.

Since 1995, and 1996 for two consecutive years of our country soybean production, domestic supply and demand has remained robust, soybean prices.

To that end, countries adjust soybean import and export policies to increase imports and reduce exports.Some joint venture enterprise with independent import and export franchise, China soybean on opening up to the trip.For the first time in 1996, our country became a net importer of soybean, and continues today.

Soybeans in 2001 China's formal entry into the WTO, opening to the outside market, foreign companies pouring into the domestic, the big four food dealers began to enter China's soybean industry.That year the United States on China's exports of 5.762 million tons, accounting for 41% of the total imports in China that year, soybean imports to domestic soybean output, import quantity of soybean oil accounted for 45% of the total domestic consumption.

In 2003-2004, affected by the low temperatures, severe drought and other natural disasters, in short supply, domestic soybean, soybean imports domestic production for the first time on record imports of 20.74 million tons.

To double the number of imports of soybeans in China in 2004 at the same time, the small and medium-sized soybean squeezed oil processing enterprises and local businesses have closed down, shut down, and merged by foreign investment at a low price.Before and after listing in U.S. soybean, as an international trade pricing benchmark CBOT soybean futures price volatility, resulting in a large number of Chinese soybean processing enterprise high procurement.And then prices have plunged, squeezing domestic enterprises loss 500-600 yuan/ton, squeezing domestic enterprises 70%, a large number of business failures, some big enterprises have also weakened, domestic "soybean crisis".

30.82 million tons of soybean imports in 2007 to 1.95 times in 2000, 1996, 10 times, reached half of global imports.Unable to dominate the market, the volatility of the market for domestic soybean industry has hit repeatedly, until the import dependence above 70% for the first time in 2008, domestic crushers are lying idle or takeover.

Because transgenic soybean yield efficiency high, the cost is low, and more than 20% of the yield efficiency considerable advantage to import beans, 2010 national 97 large oil processing enterprises, foreign-owned enterprises accounted for more than 66%, foreign imports of soybean processing capacity (80%), and then 54.786 million tons of soybean imports into China, the major soybean producing areas of the market, even in domestic soybean and soybean imports for many years in failed completely.

At present, the domestic annual total soy consumption is close to 80 million tons, domestic production is 13 million tons, only domestic import soybean amounted to 63.4046 million tons in 2013.The customs according to the latest figures, China imported 4.623 million tons of soybeans in March 2014, increasing 32.53% month-on-month, an increase of 20.35%;In the first quarter of China's soybean imports 15.346 million tons, also rose 33.18% from a year earlier.

Although the recent soybean import market in China due to the continuous default event happened quite a shock, but imports rise unabated.Soybean import dependency is exorbitant, soybean processing industry of China has become a major problem.China as the world's largest soybean importer, the enterprise cannot participate in the international pricing, can only engage in futures trading in CBOT, passive accept price of CBOT loss of pricing power in the international market.

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