China's new animal feed standards set to lower soybean consumption
CHINA - 28 October 2018 (Reuters): New standards of protein content in animal feed that China announced on Friday will cut the country's annual soymeal consumption by 11 million tonnes and soybeans by 14 million tonnes, according to a statement from the agricultural ministry seen on Sunday
29 October 2018
2 minute read
By: China is entering what is typically its top buying season for US soybeans, a critical source of protein in livestock feeds, and higher tariffs - part of an escalating Sino-US trade war - could drive up prices.
China's Feed Industry Association on Friday approved new standards for the feed for pigs and chickens, lowering the protein levels in pig feed by 1.5 percentage points and those for chickens by one percentage point, the ministry said.
It did not give a timeline for when the new standards will take effect.
China, the world's top consumer of the oilseed, is seeking various ways to cut soymeal in animal feed including turning to alternative meals and reducing protein levels.
The measures came after Beijing imposed 25 percent tariffs on $34 billion worth of US products including soybeans on 6 July, in retaliation to US tariffs on Chinese goods of the same amount.
Soymeal futures on the Dalian Commodity Exchange for January delivery last traded at 3,383 yuan ($487.29) per tonne on Friday, up nearly a quarter so far this year.
($1 = 6.9425 Chinese yuan renminbi)
Reporting by Chen Aizhu and Li Pei
Ryan Johnson
Ryan worked in conservation from 2008 to 2017, during which time he operated a rainbow trout hatchery and helped to maintain public and protected green spaces in Canada for the Toronto and Region Conservation Authority. As editor of The Poultry Site, he now writes about challenges and opportunities in agriculture across the globe.
