Changes of China's soybean import market power and influencing factors

Whether Chinese soybean importers can keenly grasp the changes of different source countries' market power, will directly affects the safety and cost of soybean import. Based on the analysis of changes in China's soybean import trade structure, this paper utilizes monthly data from January...

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Bibliographic Details
Published in:Applied economics letters 2023-10, Vol.30 (18), p.2619-2625
Main Authors: Lv, Wenhui, Ye, Linxiang, Wang, Ling
Format: Article
Language:English
Subjects:
Change agents
Comparative studies
COVID-19
Crude oil prices
Economic analysis
Imports
International trade
market power
market structure
oligopoly competition and monopoly
Power
Prices
Soybean import market structure
Soybeans
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Summary:Whether Chinese soybean importers can keenly grasp the changes of different source countries' market power, will directly affects the safety and cost of soybean import. Based on the analysis of changes in China's soybean import trade structure, this paper utilizes monthly data from January 2009 to December 2021, combines with the residual demand elasticity model, to compare and analyse the market power of the three major source countries. The results show that although the United States is no longer China's largest soybean import country, its market power in China's soybean import market has not been affected, while Argentina's market power is gradually increasing. Although Brazil has grown into the first source of China's soybean imports, it has only weak market influence. In addition, China, as the world's largest buyer, doesn't have market power. China's soybean import price is mainly affected by futures prices, domestic soybean prices, international crude oil prices, Sino-US trade frictions and COVID-19 epidemic.
ISSN:1350-4851
1466-4291
DOI:10.1080/13504851.2022.2101604