March 29, 2012

China's oilseed imports may climb in crop year 2011-12

In the crop year of 2011-12 starting from October 2011, the oilseed imports of China may possibly show an upward trend, said Deng Ruihong, vice-general manager of the vegetable oil research department of the COFCO Group.

Speaking at a seminar on Tuesday (Mar 27), Deng predicted that the country would import 55-58 million tonnes of soy in this crop year, higher than 52.34 million tonnes in the previous crop year.

She also projected that China's rapeseed imports would reach 1.5-2 million tonnes in the crop year compared with 930,000 tonnes a year earlier.

Deng predicted that the country's edible oil imports would gain 8% year on year to nine million tonnes in the 2011-12 crop year.