May 13, 2009
China's soy imports to rise in 2009-10
China will import 38.10 million tonnes of soy in 2009-10, an increase of 1.6 percent from the current marketing year's projected total of 37.50 million tonnes, according to the US Agriculture Department's (USDA) forecast on Tuesday (May 12).
Meanwhile, USDA pegged global soy production in 2009-10 to rise 14 percent from the current year.
The US, Brazil and Argentina were expected to produce more soy in 2009-10 with Argentina's crop projected to recover after this year's drought.
USDA lowered its estimate of world soy production in the current marketing year by 5.97 million tonnes to 212.79 million tonnes.
