May 21, 2007
China's soybean and fishmeal imports increase while soymeal and wheat see deep cuts
China's import of ingredients such as soybean and fishmeal increased while soymeal, wheat and barley imports saw deep cuts from January to April this year, according to preliminary figures from China's Customs.
Despite higher prices, fishmeal imports increased 9.3 percent from 32,000 tonnes last year to 35,000 tonnes for the period.
Soybean imports, mainly from the US and Latin America, rose 5 percent, rising from 8 million tonnes to 8.4 million tonnes this quarter.
Soyoil imports also increased 15.7 percent to 790,000 tonnes from 683,000 tonnes last year.
Perhaps in reflection of the huge capacity of China's soy crushing industry, soymeal imports plunged dramatically, from 480,000 tonnes last year to just 20,000 tonnes this year.
China also reduced its wheat import to just 70,000 tonnes this quarter, compared to 210,000 tonnes the same period last year. Better grain prices is said to have triggered interest in grain production, thanks in part to minimum purchase prices set by the government.
Barley exports also fell drastically from 90,000 tonnes the same period last year to 40,000 tonnes.
Meanwhile, palm oil imports increased from 1 million tonnes this quarter to 1.3 million tonnes, a 30-percent increase.
Whereas no rapeseed oil was imported last year, this year saw an import of 103,000 tonnes, perhaps reflecting anxiety over an expected reduction in the rapeseed crop.
Meanwhile, the country's corn exports rose to 3.5 million tonnes in the first four months, compared with 2.2 million tonnes from last year. Soybean exports rose to 170,000 tonnes, compared with 130,000 tonnes the same period last year.
