April 20, 2012

China's April soy imports seen down at 4.63 million tonnes 

This April, China will probably import 4.63 million tonnes of soy, 4.83 million tonnes lower than last month but much higher than 3.88 million tonnes on-year, the state-backed China National Grain and Oils Information Center said Tuesday (Apr 17).

Actual imports may be higher than the forecast, which is based on monitoring of shipments, the CNGOIC said in a e-mailed report.

The Ministry of Commerce estimated earlier this month that April soy imports may reach 5.63 million tonnes.

The CNGOIC said soy imports will likely reach 5.2 million tonnes in May and 15.3 million tonnes in the second quarter, compared with 13.33 million tonnes in the first quarter.

Soy imports for this marketing year, which began October 1, will likely exceed 55 million tonnes, it added.