Supply of soybeans secured in China: official

Source: Xinhua| 2019-10-14 20:58:40|Editor: huaxia
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BEIJING, Oct. 14 (Xinhua) -- Market supplies of grains including soybeans are secured in China, as the country's grain production capacity is relatively strong and the stockpiles are abundant, an official said Monday.

China's soybean planting area is expected to reach 140 million mu (about 9.3 million hectares) by 2020, with the average yield per mu reaching 135 kg, said Su Wei, an official with the National Development and Reform Commission at a press conference.

Market supplies of soybeans will increase as government departments are actively implementing plans to stimulate soybean production, Su said.

Meanwhile, as domestic grain market becomes more open, foreign-funded companies will gain wider and deeper presence in China's grain market, according to Su.