China soy imports to reach 42 million tonnes in 2010

China will likely import a large amount of soy in the first several months of 2010, with total imports this year expected to reach 42 million tonnes.

The latest data from the General Administration of Customs showed that the country's edible oil and soy imports respectively amounted to 8.16 million tonnes and 42.55 million tonnes in 2009, up 8.4% and 14% from the previous year.

Agribusiness analyst, Chen Lina said that China's edible oil consumption has grown by an average of 5% to 6% year-on-year, but domestic oilseed production can hardly meet such an increasing demand. That is why oils and oilseed imports have been rising persistently, she explained.

The National Grain and Oils Information Centre previously estimated that the country's soy output in 2009 would drop by 6.7% year-on-year to 14.5 million tonnes.