March 24, 2014

China's 2013-14 rapeseed imports to hit record 4.3-4.5 million tonnes

Due to cheaper overseas prices and an expansion in local crushing capacity, Chinese rapeseed imports in the 2013-14 marketing year ending in May are expected to reach a record 4.3 to 4.5 million tonnes, up from 3.3 million tonnes in the previous year, China National Grains and Oils Information Centre (CNGOIC) said.

An analyst with the CNGOIC added that the government was planning to sell some of its rapeseed oil reserves, estimated at around five million tonnes, by as early as this month.