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High Quality and Good Pricing of Domestic Soybeans Depend on Enterprises to Implement in order to Reach Sustainable Targ

China Agriculture Report By CnAgri2017-09-25 11:06:42China Agriculture Report Print Recently, a limited volume of new soybeans from the Northeast was launched into the market. The present quoted price was 3,800 RMB/MT to 3,900 RMB/MT. The loading price was 4,100 RMB/MT and the water content was about 15%. The nominal price was nearly the same as last year. Due to the present market situation, a long-term low downturn was expected.
On the one hand, both the soybean cultivation area and output increased in the Northeast; on the other hand, the temporary soybean reserves might be sold at low prices at auctions. As a result, the new soybean market situation would be further suppressed; thirdly, as the cost of imported soybeans still remained low, the domestic soybeans would be continually replaced. Therefore, the market entity mostly still had a wait and see attitude due that the supply pressure inhibited the price.    
The soybean cultivation area increased slightly this year as the government encouraged soybean production through reforms in agricultural supply and subsidies. However, only when the market price reaches the premium ability (high quality and good pricing) of the non-GMO soybeans, could the domestic soybeans truly reach sustainable development.
Currently some well-known soybean crushing plants and processing enterprises devote themselves to produce non-GMO soybean products. Harbin Huikang Foods of Jiusan Group represents the local soybean oil processing enterprises; Shandong Yuwang Industrial Corp and Wandefu Industrial Corp represent the soybean protein processing enterprises. These enterprises cooperate with the farmers closely and even have their own planting bases. They have a considerable reputation and market share in the terminal market and may become the main driver for the rise of domestic soybean industry.
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