China Aims for More Self-Sufficiency in Food Production
China is one of the biggest trading partners for the U.S. However, the South China Morning Post says the Southeast Asian nation may be attempting to change that. The country aims to increase soybean production this year in an attempt to become more self-sufficient and import less food.
Escalating geopolitical tensions are one of the big reasons for the change. China will try to increase its national soybean yield by 11 pounds per mu, which is a Chinese unit of land measurement equal to approximately 0.165 acres.
China imports more than 80 percent of the soybeans used to feed its people and livestock, and shipments come mainly from Brazil and the U.S. That heavy reliance on imported commodities has raised significant governmental concerns about its food security.
However, Chinese farmers appear less motivated to grow beans than last year because of the low market price of soybeans and their low benefits.