The U.S. is losing soybean market share to Brazil in China over protein. Reuters says soybean growers in the U.S. seeking higher-yielding crops is robbing the crop of protein content.
A decline in protein levels make soybeans less valuable to the $400 billion feed industry in China A decade ago, the United States supplied 38 percent of soybeans to China, the world’s top importer, compared to 34 percent from Brazil. Now, Brazil supplies 57 percent of Chinese imports compared to 31 from the United States, according to China’s General Administration of Customs.
The United Soybean Board is advocating that the industry takes protein content seriously. The industry group will spend $5.6 million in fiscal year 2018 on research and other efforts to boost protein, up from $3.7 million last year. USB director Jared Hagert says: “China needs soybeans, and we’re at risk of becoming a residual supplier if we don’t work on protein improvements.”