Study On The Pricing Power Of China’s Soybean Import

With the process of globalization accelerating,soybeans,as an important eco nomic crop,is attracted by more and more general people. As the birthplace of the world’s soybeans, China has a long history of soybean cultivation, For a l ong period of time China is an important exporter of soybeans in the world, Before 1996, China has been a net exporter of soybeans.With people’s quality of life improving,the diet of residents has undergone major changes.and people demand more and more soybean oil and other soy products,but the Chinese s oybean production has not been growing rapidly,and there is a declining trend.I n order to ease the enomouspressure,China only rely on many foreign to suppl y soybean.At present, China is the world’s first importer of soybeans,and the s econd consumer,But China’s huge advantage for the buyer does not translate int o a price advantage.China does not have the pricing power on soybean imports,thus making businesses and consumers to huge losses.Through the study,we can found that the main factors affecting the pricing of soybean include the imbalance of domestic soybean market supply and demand,multinational grain merchants having worldwide monopoly power,the lack of pricing center soybean trade,exchange rate fluctuations.This paper analyzes the Chinese lack of pricing soybeans,We found a correlation between soybean import prices with the international market price fluctuations,and considered the soybean imports.Select China’s soybean imports monthly average price, international market prices and imports of Chinese soy-month in January 2010 to December 2015 as samples to construct VAR model variables,using ADF test, AR root test, Granger causality test, impulse response function of a series of modern methods of measurement to analyze the empirical research.We found that soybean import prices and international market prices have a strong correlation,international market prices has a strong explanatory power to soybean import prices in a short term and long term,however, import prices have inertia in the long term,itcan not be completely changed by the international market price.The imports has a smaller price elasticity,and it subject mainly to their influence,it meets to China’s soybean demand realities.Finally,we made a number of policy recommendations that we can improve the supply of soybeans or promote the internationalization of the yuan and strengthen cooperation between enterprises,the futures market construction and management of genetically modified soybeans...