Competitive Analysis of Chine Soybean Import Suppliers
--U.S., Brazil, and Argentina
最喜欢的英文Baohui Song
Rearch Assistant
University of Kentucky
Department of Agricultural Economics
417 C. E. Barnhart Bldg.
Lexington, KY 40546-0276
Phone: (859) 257-7283
Fax: (859) 257-7290
E-mail: bsong2@uky.edu
Mary A. Marchant
Associate Dean and Director of Academic Programs
Virginia Polytechnic Institute and State University
1060 Litton-Reaves Hall (0334),
五一劳动节英语作文Blacksburg V A 24061
Phone: (540) 231-6503
Fax: (540) 231-6741
E-mail: mmarchan@vt.edu
Shuang Xu
Rearch Assistant
University of Kentucky
断章取义英文
Department of Agricultural Economicschh
胡萝卜的英文单词
417 C. E. Barnhart Bldg.
Lexington, KY 40546-0276
Phone: (859) 257-7283
Fax: (859) 257-7290
E-mail: sxu4@uky.edu
Selected Paper prepared for prentation at the
American Agricultural Economics Association Annual Meetings
Long Beach, CA, July 23-26, 2006
Copyright 2006 by Baohui Song, Mary A. Marchant, and Shuang Xu. All rights rerved. Readers may make verbatim copies of this document for non-commercial purpos by any means, provided that this copyright notice appears on all such copies.
英语诗Competitive Analysis of Chine Soybean Import Suppliers
-- U.S., Brazil, and Argentina
Baohui Song, Mary A. Marchant, and Shuang Xu
Abstract
Globally, China is the number one soybean importer, and the U.S., Brazil, and Argentina are the top three soybean exporters. This rearch provides a detailed overview of the global soybean industry, analyzes the competitive structure of the Chine soybean import market by examining both annual and monthly data, and compares competitiveness of the U.S., Brazil, and Argentina in the Chine soybean import market. Results indicate that the U.S. and South America (Brazil and Argentina) were asonal complementary soybean suppliers for China and Brazil has the greatest advantage in the Chine soybean import market, followed by the U.S. and Argentina.
Key Words: Chine soybean import market, competitive analysis, asonal complementary soybean suppliers, soybeans trade
考研秘书网Competitive Analysis of Chine Soybean Import Suppliers
-- U.S., Brazil, and Argentina
Globally, China is the number one soybean importer, and the U.S., Brazil, and Argentina are the top three soybean exporters. In 2005, China’s soybean imports accounted for 41% of the world total, and soybean exports from the above three soybean producing countries accounted for over 90% of the world total. Given the above aggregate market shares of the soybean traders in the world soybean market, it is reasonable to assume that the world soybean market, especially the Chine soybean import market, is not perfectly competitive. The Chine soybean import market may be characterized as either a monopsony where China, as the major soybean importer, has stronger market power relative to soybean exporters from the U.S., Brazil, and Argentina or as an oligopoly where the U.S., Brazil, and Argentina, as major soybean exporters, have relatively stronger market power.
Song, Marchant, and Xu (2006) found that Chine soybean importers have stronger market power relative to U.S. soybean exporters. Using this result, and assuming Chine soybean importers may also have stronger market power over soybean exporters from Brazil and Argentina, objectives of this rearch include 1) to provide an overview of the global soybean industry; 2) to analyze the competitive structure of the Chine soybean import market by examining both annual and monthly
data, and to examine the relationship between the U.S. and South America (Brazil and Argentina) in the Chine soybean import market: substitutes or complements; and 3) to compare competitiveness of the U.S., Brazil, and Argentina in the Chine soybean import market.
Outlook of the World Soybean Industry
Leading Global Soybean Producers
Globally, the top four soybean producing countries include the U.S., Brazil, Argentina, and China, as shown in figure 1 (USDA-FAS, 2006). In 2005, soybean output from the four countries reached 200 million metric tons, accounting for 90% of the global total (USDA-FAS, 2006). Among them, the U.S. led the world in soybean production with an output of 84 million metric tons in 2005. Brazilian soybean output reached 57 million metric tons, about 76% of U.S. production, and ranked cond in the world. Argentina produced 41 million metric tons of soybeans and China only produced 18 million metric tons.
沈阳英语口语培训Figure 1. Leading Global Soybean Producing Countries
Source: USDA-FAS, PS&D data, 2006.
Figure 1 also indicates that the growth of soybean production was quite stable for the U.S., China, and other countries. In the last four decades, the average annual growth rates of soybean productio
n in the U.S. and China were 5% and 3%, respectively. In contrast, soybean production in Brazil and Argentina incread dramatically in recent years. From 1964 to 2005, the average annual growth rates of soybean production in Brazil and Argentina were 14% and 27%, respectively (USDA-FAS, 2006). From the trends shown in figure 1, it is reasonable to expect that within a few years Brazil may surpass the U.S. and become the largest soybean producer in the world, if Brazil continues its current growth rate. In contrast, the growth rate of Argentinean soybean production is even higher than that of Brazil, and Argentina has also become a strong competitor for the U.S. in the world soybean market.
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Leading Global Soybean Consumers
Leading global soybean consuming countries (or economic groups) include the U.S., China, Brazil, Argentina, and the EU-25. Figure 2 compares soybean consumption among the leading soybean consuming countries (USDA-FAS, 2006). The U.S. is the number one soybean consumer in the world. In 2005, U.S. soybean consumption reached 51 million metric tons, accounting for 61% of U.S. soybean output. Brazil, ranking cond in soybean consumption, consumed 31 million metric tons in 2005, accounting for 57% of its production.
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Argentina’s soybean consumption reached 31 million metric tons in 2005, accounting for 76% of its production. In contrast, China’s soybean consumption was 45 million metric tons in 2005, while China’s soybean production was only 18 million metric tons, resulting in a 27 million metric tons shortage.
Figure 2. Leading Global Soybean Consumers
Source: USDA-FAS, 2005.
Leading Global Soybean Exporters
The top three soybean exporters in the world include the U.S., Brazil, and Argentina. Figure 3 shows that Brazil’s soybean exports reached 25 million metric tons in 2005, surpassing the U.S., and Brazil became the number one soybean exporter in the world. The U.S. exported 24 million metric tons of soybeans, a 3 million metric tons fall compared to 2004. Brazil’s soybean exports incread dramatically in the last decade from 4 million metric tons in 1995 to 25 million metric tons in 2005, an over 500% increa. Soybean exports from Argentina also incread in recent years, and reached 10 million metric tons in 2005. Brazil and Argentina became strong competitors for the U.S. in the world soybean market.
