March 28, 2012

China's 2011-12 soy imports may reach 58 million tonnes 

This marketing year, the soy imports of China may rise to 55-58 million tonnes, higher than last year's 52.34 million tonnes, an official with state grain trader Cofco Corp. said.

Rapeseed imports will likely be 1.5 million-2 million tonnes in the year that began October 1, Deng Ruihong, vice general manager of vegetable oil research at Cofco, said in slides to be presented at an industry conference here.

Deng said edible oil imports are also expected to rise 8% to nine million tonnes, including 6.3 million tonnes of palm oil compared with last year's six million tonnes.

Thomas Mielke, executive director of Hamburg-based researcher Oil World, estimated China's 2011-12 palm oil imports at 6.7 million tonnes.