January 12, 2004

China Soybean Imports Record 83.3% Increase in 2003

China's soybean imports in 2003 hit 20.74 million tons, a record increase of 83.3 percent from the year earlier, customs figures showed.

The paper did not give figures for December.

Official figures showed China imported 19.18 million tonnes of soybeans in the first 11 months of 2003.

China is the world's top soybean buyer. The high demand comes from its oil crushing and animal feed industries as its economy grows and more and more people can afford to consume meat, traders say.