农产品：从保供稳产到高质高效

Report Overview - The report focuses on the transformation of the agricultural products industry from ensuring stable supply to achieving high-quality and efficient development, with policy support playing a key role [2]. Industry Investment Rating - Not provided in the report. Core Viewpoints - The 2026 government work report and two - sessions proposals outline a clear roadmap of "ensuring stable supply, improving quality and efficiency, and enabling technology" for the agricultural products industry. A series of policy combinations covering the entire chain from production, storage, processing to trade will promote the upgrade of China's agriculture [2]. Summary by Section Main Grains - The government sets the grain output target at about 1.4 trillion catties in 2026, and the "15th Five - Year Plan Outline (Draft)" further raises the comprehensive grain production capacity target to about 1.45 trillion catties. The core drivers of the main grain sectors such as rice and wheat come from seed industry revitalization and technological empowerment. With policy support, prices will remain stable with small fluctuations. The industry will transform from "quantity guarantee" to "both quantity and quality improvement" [4]. Corn - Corn is the main variety in the "New Round of 100 - billion - jin Grain Production Capacity Improvement Action". Policies focus on "both quantity and quality, with priority on efficiency". On the supply side, subsidies are stabilized and the seed industry is revitalized to increase yield. On the demand side, deep - processing capacity is promoted in the main production areas, and pig production capacity is regulated. A "market purchase + state support" framework is established to keep prices in a reasonable range. In 2026, the corn market is expected to achieve a virtuous development pattern of "stable quantity, improved quality, stable price, and increased efficiency" [5]. Soybeans - The government aims to consolidate and improve soybean and oilseed production capacity. The 2026 No. 1 Central Document requires expanding soybean production space and improving subsidy policies. Proposals focus on planting mode innovation and variety research and development. Domestic soybean production is expected to increase, and the self - sufficiency rate will rise, reducing dependence on imports [6]. Livestock Farming - The government emphasizes "anti - involution" reform in the livestock farming sector. The Ministry of Agriculture and Rural Affairs improves early - warning mechanisms. For meat and egg chicken farming, inter - provincial linkage storage mechanisms are explored, and green development is promoted. The industry will transform towards moderate scale, greenness, and high - quality, with increased industry concentration [7]. Imported Oilseeds - The supply security of oilseeds is a focus. China's edible oil self - sufficiency rate is only about 34.2%. Policies include expanding domestic production space, implementing the "Peanut Oil Supply Upgrade Action", and advocating a "reduced - oil" diet. A "domestic - based, diversified" supply pattern will be established [8][11].