China's 2018 soyabean output likely to rise

China's 2018 soyabean output will increase 1.9 percent year-on-year to 15.18 million tonnes, according to a report issued by the early warning expert committee of the Ministry of Agriculture and Rural Affairs on Friday. Higher soyabean output will be driven by more planting as farmers respond to government policy to increase output of the oilseed, it said.
Soyabean farmers in China's northeastern provinces will get higher subsidies than corn producers this year as Beijing continues a policy set last year to reduce its huge corn stockpile. Soyabean acreage is expected to rise 1.1 percent to 124,220 million mu or 8.2813 million hectares (20.5 million acres).