March 11, 2004

China Imported 12 Soybean Cargoes March 1-10

China imported 12 soybean cargoes in the first 10 days of March, higher than imports during the same period in February, traders tracking the shipments said Wednesday.
 
In February 1-10, only eight cargoes of imported soybeans arrived in China, a trader from a Hong Kong-based oilseeds company said, adding that during the rest of March, soybean imports are expected to slow.
 
March's total soybean imports are expected to be equal to or slightly lower than the 22 cargoes received in February. China's soybean imports have declined since January, as crushers imported less amid soaring Chicago Board of Trade soybean prices and weak demand from the feedstuff industry.
 
In January 2004, China imported 1.98 million metric tons of soybeans, 53.1% higher than in January 2003, according to official customs data.
 
In 2003, China imported 20.74 million tons of soybeans, up 83% from the previous calendar year.