China to maintain “moderate import” policy for grains and oilseed products

China will continue to rely primarily on domestic production to ensure the supply of grain and oilseed products. This approach is reflected in state policy, which includes support for farmers and processors as well as the active introduction of scientific developments and modern technologies.

According to Lu Qiyan, senior analyst at COFCO Futures, speaking at the Chinese Grains & Oils Congress 2026 international conference held on March 5 in Shanghai, China will maintain a policy of “moderate imports” of grains and oilseed products, aimed at improving the population’s living standards.

Chinese officials note that despite unfavorable weather conditions in recent seasons, the country has been consistently harvesting large grain crops for many years. In particular, in 2025 grain production per capita in China reached 508.9 kg, which significantly exceeds the international benchmark of 400 kg.

According to representatives of the Chinese authorities, supplies of grain and other key agricultural products remain sufficient, the market is stable, and government reserves are adequate.

At the same time, one of the key trends is the tight balance between production and consumption. In the structure of grain use, food consumption is gradually declining, while feed consumption continues to grow. Overall demand for grains is expected to increase in the future.

Soybean imports are also of particular importance for China. According to the COFCO Futures analyst, the most demanded product is soybean meal, which is used in feed production and supports the meat industry serving the country’s population of about 1.4 billion people. In this context, vegetable oil is considered a by-product of soybean processing.

As Lu Qiyan noted, vegetable oil imports in China play a supporting role and are primarily determined by the price-quality ratio in the global market.