February 25, 2011

China's 2010-11 new soy supply to reach 69.2 million tonnes

China's newly added soy supply is estimated at 69.2 million tonnes in 2010-11 crop year, including 15.2 million tonnes from domestic production and 54 million tonnes from imports, the China National Grain and Oils Information Centre (CNGOIC) said.

The centre also predicted that soy demand from soy oil crushing would reach 57 million tonnes in this crop year, up seven million tonnes on-year, and soy stocks by the end of this crop year would amount to 1.61 million tonnes.

CNGOIC also estimated that the country's soy imports in crop year of 2009-10 would amount to 65.32 million tonnes including 14.98 million tonnes of home-grown soy and 50.34 million tonnes of imported soy. The consumption from oil processing mills is predicted to reach 50 million tonnes and the stocks by the end of that crop year are estimated to arrive at 5.44 million tonnes.