The impact of changes in soybean planting industry on employment and overall economic development in 2018

By CnAgri2018-12-13 14:02:03 Print In 2018, 18.95 hectares of soybean need to be planted to achieve per capita income of urban residents; 7.11 hectares of soybean need to be planted to achieve rural per capita income. 73.92 hectares of soybean need to be planted to achieve the average income level of urban households; 27.72 hectares of soybean need to be grown to achieve the average income level of rural households. The sown area of soybean is expected to decline in 2019, and with more soybean production will be replaced by corn production.
Overview of domestic soybean industry in 2018: State subsidies boosted soybean sown area to 8.811 million hectares, an increase of 11.34% over the previous year. Soybean planting can allow 1.2396 million people to reach the rural per capita income level, down 17.89% from the previous year; it can beer 464,900 people to reach the urban per capita income level, down 16.35% year-on-year.
The total profit of soybean planting industry was 60 billion yuan, an increase of 5.78% over the previous year, and only accounted for 0.95% of the total output value of planting industry. Farmers’ cash income totaled 42.0 billion yuan, the profits of soybean planting came to -28.3 billion yuan,. Due to the decrease in profits, the total social demand decreased by 141.4 billion yuan, the disposable income of farmers fell by 6.4 billion yuan, the government's fiscal revenue dropped by 6.1 billion yuan, the profits of other industries decreased by 2.2 billion yuan, the overall employment dropped by 2.36 million, and the net income of the whole society declined by 14.7 billion yuan.