Research On The Pricing Power Of Soybean Trade In China

As an international commodity, the production and consumption of soybeans has a negligible impact on the national economy. China, the world’s largest soybean consumer, due to the high degree of dependence on imports, the price of soybean imports by foreign controlled four food business and other reasons, led to China’s soybean trade lack of pricing power, a serious impediment to the sustainable development of the domestic soybean processing industry.This paper aims to in-depth study of the reasons for lack of pricing power soybean trade with the research methods of theoretical research and empirical analysis to existing reference basis, starting from the macro background soybean trade,soybean buyer of international trade, the seller forces analysis, and to analyze the structure of China’s soybean imports in the region to explore the international soybean trade structure and pricing mechanism. Select China’s imports of soybean prices,domestic and international soybean prices and soybean futures prices two sets of data empirical analysis, Granger test, vector auto regression(VAR) model, impulse response analysis and other testing methods of soybean trade pricing, analytical results show China as the world’s largest soybean importer, the price is higher than the long-term international soybean prices; futures prices on the Chicago Stock Exchange Dalian Futures Exchange, soybean futures prices is large, that is, China’s soybean imports there is a serious lack of pricing power phenomenon.Factors affecting the price of soybean trade is more complex, this article soybean international trade structure and pricing mechanism based on analyzes the reasons of the lack of pricing power in soybean imports in existence. Shortfall in domestic soybean supply and demand has led to high import dependence; international soybean grain merchant monopoly to further push the international soybean prices; domestic agricultural protection policy is not perfect; the domestic futures market is not perfect opportunity to give international speculators speculation and so is China’s soybean imports the main reason for lack of pricing power trade.And make policy recommendations for improving China’s soybean imports in accordance with the import trade pricing soybean trade lack of pricing power in China. Soybean planting and by supporting the establishment of a sound system, and to enhance the acquisition of domestic soybean planting soybean farmers enthusiasm to improve domestic soybean self-sufficiency, reduce dependence on foreign trade; Soybean Industry Association, led the development of the domestic soybean processing industrystandards, improve the overall competitiveness, by harmonization and other ways to enhance the bargaining power of soybean imports; improvement of soybean futures market hedging to provide a more reliable venue for soybean trade enterprises.