January 23, 2013

China is expected to see a rise of 6.8% for soy imports in the present marketing year ending September 30 2013, according to the International Grains Council.

China's soy consumption is projected to rise 6% this year to 75.1 million tonnes, it said.

China has more than 60% share in global soy imports and demand continues to rise, but the IGC said global soy production is also set to recover after back-to-back droughts in major exporting regions of the US and South America.

Global soy output is forecast at a record of 271 million tonnes this marketing year, up 14% from 2011-12.

Global trade in soymeal is expanding and is forecast to rise 4% this year to a record 59.2 million tonnes due to strong demand in the EU, where rapeseed output has declined in recent years, it said.