April 12, 2004

 

 

China Imported 6 Soybean Cargoes In April

 

China received six cargoes of imported soybeans April 1-10, half the number of cargoes in the same period in March, a trader who tracks soybean shipments said Monday.

 

"Soybean imports in the April 1-10 period were about six cargos, significantly lower than the import in the same period in March," said the trader from a Hong Kong-based oilseeds company.

 

In the March 1-10 period, China is estimated to have imported 12 cargoes of soybeans, said the trader.

 

Each Panamax cargo is about 55,000 tons.

 

In April, Chinese soybean imports are forecast to fall to 1 million tons, another trader from a local brokerage house said.

 

In January and February together, China imported 3.82 million tons of soybeans, up 89% from imports in the first two months of 2003, according to official customs data.

 

In March, however, imports were estimated around 1.20 million tons, according to traders tracking shipments.

 

Last year, China imported 20.74 million tons of soybeans, up 83% from imports in 2002.

 

China's General Administration of Customs will issue the official import figure for March around April 20.

 

The tracking data on soybean arrivals may not necessarily be in line with the customs figures as they reflect actual arrivals in a particular month, while the custom figures include all cargoes that were given customs clearance prior to arrival.