In 2014, China's soybean crushing industry lost 20 billion yuan.

Prices in China's soybean crushing industry fluctuated in 2014, with the industry making a profit in November and losses in the rest of the month.

Almost all of the increase in global soybean imports since 1996 has come from China, which imported 71.4 million tons of soybeans in 2014, accounting for 65 per cent of global soybean imports.

China's soybean crushing industry lost 20 billion yuan in 2014 due to the volatile decline in domestic soybean oil and soybean meal prices.

At the same time, the state cancelled the temporary soybean collection and storage policy in 2015 and the national soybean inventory of 2 million tons in 2014. China's soybean import is expected to be 74 million tons in 2015, only an increase of 2.6 million tons over 2014. The cost of imported soybeans is much lower than that of domestic soybeans, so that if domestic soybeans want to make a profit, they must achieve a balance between supply and demand, that is, a balance between farmers' sales and consumption. On the other hand, the oversupply of global soybeans directly led to the concussion of soybean prices in the international market in 2015.

In 2014, China's vegetable oil import dropped sharply, and China's vegetable oil supply surplus stock continued to increase.

As China imports 2/3 of vegetable oil, the import volume of vegetable oil may continue to decline in 2015 due to the internal and external price of vegetable oil, the decrease of financing imports and the huge domestic inventory.

The import and crushing volume of domestic soybeans continued to increase in 2015, and the domestic vegetable oil supply will remain abundant. Coupled with the abundant supply of vegetable oil in the international market and difficulties in rising prices, it is unlikely that domestic vegetable oil prices will rise sharply.

As the largest increase in global vegetable oil production, Director Zhang predicted that the price of palm oil may fall more than soybean oil in 2015 under the premise of abundant global vegetable oil supply and rising price pressure.