January 14, 2004

China Imports 20-21 Soybean Cargoes In Early January

China received 20 to 21 cargoes of imported soybeans in the first 10 days of January, higher than the arrivals in the same period of December, a trader who tracked the shipments said Tuesday.

"As the Spring Festival is coming later this month, the arrivals of imported soybeans picked up paced again in early January, " said the trader from a Hong Kong-based oilseeds company.

Sources at two other grain trading companies concurred that 20 to 21 cargoes had been received Jan. 1-10.

By comparison, China received 15 cargoes of imported soybeans in the first 10 days of December.

The traditional Spring Festival comes on Jan. 22, but government and business offices close at an earlier date.

In the remainder of January, China is expected to receive another 10-12 cargoes, said the trader from the Hong Kong-based company.

Since China extended its interim rules on imports of crops containing genetically modified organisms to April 20, about 4.70 million tons of imported soybeans have arrived at Chinese ports, said the trader.

China has imported 19.18 million tons of soybeans in the January-November 2003 period, according to the official customs data.