# SCIO press conference on performance of agriculture and rural economy in 2023 | english.scio.gov.cn

> At a Chinese State Council Information Office press conference, the Ministry of Agriculture and Rural Affairs said China imported 99.41 million tonnes of soybeans in 2023, up 11.4%, largely to feed livestock. It outlined a three-year action plan launched in 2023 to reduce and substitute soybean meal in animal feed.

- Date: 2024-02-02 · published 2024-02-02T12:00:00.000Z
- Category: policy · region China · magnitude medium
- Page: https://feedsoft.ai/events/31659-scio-press-conference-on-performance-of-agriculture-and-rural-economy-in-2023
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

If China succeeds in cutting soybean meal inclusion in feed rations, import demand for soybeans and meal would weaken, pressuring global protein meal and soybean prices.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- HOGS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-05-02 | [FiBL - Report on the EU Common Agricultural Policy and deforestation](https://feedsoft.ai/events/71041-fibl-report-on-the-eu-common-agricultural-policy-and-deforestation.md) | -0.3% | -4.8% |
| SOY | 2017-10-13 | [AgroPages-Record Soy carryover in Argentina expected to pressure prices-Agricultural news](https://feedsoft.ai/events/68306-agropages-record-soy-carryover-in-argentina-expected-to-pressure-prices.md) | -0.6% | -1.7% |
| SOY | 2018-12-31 | [Profiles and Effects of Retaliatory Tariffs on U.S. Agricultural Exports - EveryCRSReport.com](https://feedsoft.ai/events/61443-profiles-and-effects-of-retaliatory-tariffs-on-u-s-agricultural-exports.md) | +3.3% | +4.1% |
| SOY | 2025-07-26 | [Milei announces ‘permanent’ reduction in agricultural export duties - Buenos Aires Herald](https://feedsoft.ai/events/13848-milei-announces-permanent-reduction-in-agricultural-export-duties-buenos-aires.md) | -3.7% | +3.8% |
| SOY | 2017-05-04 | [Drawing out links between the Common Agricultural Policy, soy, and deforestation in South America - Fern](https://feedsoft.ai/events/71038-drawing-out-links-between-the-common-agricultural-policy-soy-and-deforestation.md) | -0.4% | -5.5% |
| SBM | 2019-12-11 | [SunSirs: Agriculture: Eye-Catching Performance of Palm Oil and Soybean Oil in the Fourth Quarter Thanks to Good News Supporting](https://feedsoft.ai/events/12380-sunsirs-agriculture-eye-catching-performance-of-palm-oil-and-soybean-oil-in-the.md) | +1.8% | -0.2% |
| SBM | 2017-05-02 | [FiBL - Report on the EU Common Agricultural Policy and deforestation](https://feedsoft.ai/events/71041-fibl-report-on-the-eu-common-agricultural-policy-and-deforestation.md) | -1.5% | -5.3% |
| SBM | 2017-10-13 | [AgroPages-Record Soy carryover in Argentina expected to pressure prices-Agricultural news](https://feedsoft.ai/events/68306-agropages-record-soy-carryover-in-argentina-expected-to-pressure-prices.md) | -0.4% | -3.4% |

## Sources

- english.scio.gov.cn: http://english.scio.gov.cn/pressroom/2024-02/02/content_116982835_8.htm
- english.scio.gov.cn: http://english.scio.gov.cn/pressroom/2024-02/02/content_116982835_9.htm

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.