CHINA’S soybean demand growth is expected to wane in the next few years amid slower population growth and a change in the nation’s consuming habits, according to domestic meat producer Wellhope Foods Co.

Soybean purchases by the world’s largest importer should stabilize at roughly 100 million metric tons at least for the next five years, vice president Sun Lige said during a U.S. Soybean Export Council conference in New York.

That’s 1 million metric tons more than the U.S. Department of Agriculture’s projection for the 2023-24 season.

Chinese imports of soybean, a key ingredient to animal feed, soared roughly fivefold since the early 2000s as rapid economic growth created an expanding middle class that can afford more protein in their diets.

But Chinese consumers are gradually shifting their meat consumption from pork to alternative proteins such as fish and chicken, which require less feed to grow, according to Sun.

“White meat is typically seen as cheaper, healthier and easier to cook,” Sun said.

The shift is driven by consumer preferences rather than government policy, he added.

Li Ying, procurement manager for Sichuan Tequ Investment Group Co., said during the same conference that China will buy the soy it needs either from the United States or South America, looking mostly at price, regardless of quality.

China usually alternates its buying between Brazil and the United States, depending on the period of the year, as the two largest producers have their harvests in opposite windows. (SD-Agencies)