May 11, 2021
New Delhi — China — the world’s largest soybean importer — lost over half of its pig population between 2018 and 2019 to the African swine fever epidemic, which also led to a slump in its soybean imports.
Subsequently, the country’s hog industry underwent a massive overhaul, which included consolidation and stringent regulations. As a result, China’s swine population and soymeal-based feed demand started recovering in 2020.
China’s agricultural ministry forecast the country’s swine herd to fully recover from the epidemic in 2021.
According to S&P Global Platts Analytics, despite the resurgence of ASF in China, its soybean demand is forecast to remain robust in 2021 amid strong hog herd growth rate.