Soy imports for China seen at record 44 million tonnes

China is seen to import a record 44 million tonnes of soy in 2009-2010, up 7.3% from the previous year, according to a forecast by the China National Grain and Oils Information Centre (CNGOIC).

Chinese soy plants also are likely to process a record 47.5 million tonnes of soy, including the domestic crop, said the official think-tank.

Beijing's restriction over soyoil imports from Argentina has helped lift the soy import forecast by two million tonnes and could boost rapeseed oil imports as well, it said in a report on Wednesday (Apr 14).

The centre has revised down projected soyoil imports in the year to September 2010 to 1.8 million tonnes, down 500,000 tonnes from its earlier estimate. Estimated rapeseed oil imports were revised up by 50,000 tonnes to 450,000 tonnes for the year.

Meanwhile, projected rapeseed meal imports in the year were revised up to 500,000 tonnes from 200,000 tonnes earlier.