The golden age of soybean crushing industry curtain call, the advent of the inne

The two products of soybean crushing are soybean oil and soybean meal. According to statistics, soybean oil in China's total edible vegetable oil production accounted for more than 50%, soybean meal in China's total protein meal production accounted for nearly 80%.

 Yang Baolong, president of China Soybean Industry Association, pointed out in his speech that due to the large number of people and less land and the limited scale of domestic soybean planting, the soybean import volume keeps increasing. By 2020, it exceeded 100 million tons. China's soybean import has become the first one in the world, accounting for two-thirds of the world's total imported soybeans. The dependence on foreign soybeans has actually formed a short board of our food security, so it is imperative to improve the production capacity of domestic soybeans.


 He said non-genetically modified soybeans are China's core competitive advantage. From the soybean production situation of the new season this year, the effects of expanding the area and increasing the yield per unit area were obvious, and the soybean yield reached a record high. With the active implementation of the soybean revitalization plan, China's soybean planting area will continue to grow, and the supply capacity of domestic soybeans will be further strengthened.

 The entry threshold of soybean crushing industry is very high, with the characteristics of heavy assets, high investment, high risk and long cycle, and has always been the field of fierce competition among the head enterprises. What is the industry landscape today?


 Yang Baolong pointed out that in the past 20 years, China's soybean industry welcomed the bloody wind of internationalization, and oil processing enterprises came one after another. Now they can survive and have the ability of internationalization, capitalization and scale. These three industries are a road that China's agricultural enterprises must take in the future. But China's soybean processing capacity, is now extremely surplus.


 COFCO Zhou Jishuai also said that the soybean crushing industry has been overall overcapacity in his speech .


 At present, the annual soybean crushing capacity of China is 174 million tons, and the crushing capacity in 2022 is expected to be 94 million tons, and the opening rate is expected to fall to 54%.


 In the past two years, soybean crushing capacity continued to expand, mainly concentrated in the Yangtze River, North China and Shandong region. In 2021, the total daily capacity of imported bean crushing will reach 446,000 tons; it will reach 476,600 tons by the end, 2022.


 The annual compound growth  rate of soybean crushing capacity is 3%, while the growth rate of crushing is 2%. Therefore, now on the whole, the expansion rate of soybean crushing capacity is significantly higher than the growth rate of crushing capacity, and the opening rate is continuing to decline.

 For the future development trend, Zhou Jishuai said that domestic soybean production on the current basis, part of the production will flow into the pressing field, part of the replacement of imported soybeans.


 The consumption of oil and protein meal, the two products of soybean crushing, is mainly affected by the population structure. At present, the domestic population growth rate has slowed down, and there may be zero growth or negative growth phenomenon in the future. But on the other hand, the proportion of urbanization is still increasing, and there is still room for growth in catering consumption. Therefore, it is expected that there is still room for growth in oil and protein meal in the future, but the growth rate is slowing down significantly.


 From the analysis of industry experts, it can be seen that with the further improvement of industry concentration, the industrial profits are constantly squeezed, soybean squeezing has entered the game of stock, state-owned, private and foreign enterprises, facing more fierce market competition and living environment.


After more than 20 years of rapid development and layout adjustment, China's soybean crushing industry has entered a mature development stage. Although the internal rolling competition will become the main theme of the stock game, there is still room for soybean crushing enterprises in terms of coordinated development with the downstream enterprises of the industrial chain and promoting the symbiotic and win-win integrated development of the whole industry.

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