May 18, 2012

China's 2011-12 soy imports grow 11%

During 2011-12, China's imports of soy increased more than expected, due to the soaring demand as farmers feed a hog herd.

China's soy imports during the current marketing year (Oct-Sept) rose by 11% to 58 million tonnes against 52.34 million tonnes during 2010-2011, China National Grain and Oils Information Center said on Wednesday (May 16).

As per government data, China is the leader among other nations across the globe when it comes to soy consumption and demand for the commodity has doubled since 2004.

US, Brazil, Argentina, China and India are the largest soy producing countries in the world while soy is largest grown oilseeds in the world.