Investigation of the International Food-Grade Soybean Market

Abstract

This study provides an overview of the international soybean market and takes a look at a case study of an exporter and their target markets, China, Japan, and South Korea. Then it estimates future soybean import demands for these countries. Results indicate that China’s soybean import demand will remarkably increase compared with those in Japan and South Korea. Although Korean and Japanese buyers are willing to pay a premium for food-grade soybeans, China market may grow faster than those in Japan and South Korea. This is because as income increases, Chinese consumer may concern more about their health which makes them to be willing to pay premium for high quality food-grade soybeans.