Ensuring sustainable imports of soybeans to China: a comparative study of bilateral foreign trade with Brazil

Abstract

The article discusses the problem of sustainable soybean imports to China as a strategic food product. Extensive and intensive factors, determine the soybean supply to China was identified. It has been established that the China-Brazil soybean foreign trade is characterized by a constant increase in bilateral interdependence, characterized by volumes and prices. It was revealed that the prices of soybeans in the Brazilian market are formed by China’s demand and are the lowest of imported into China. It has been proven an increase in the soybean imports volatility in China: the monopoly strengthening of the key supplier (Brazil) and the rise of purchase prices, the inclusion of China's political commitments in foreign soybean trade with the United States. It has been established that the extensive factors on the soybean imports increasing are near to be exhausted. It is suggested that China will be enforced to use intensive factors of soybean imports sustainability: diversification of soybean import sources, including initiation of public-private partnership contracts, policy adjustments to deepen China-Brazil-USA-Russia soybean trade cooperation, exploring investments in neighboring countries. A plan for expanding educational and scientific cooperation with Russia is presented, aimed at expanding production and soybean foreign trade with the PRC.