May 26, 2008

China to increase soy import volume

China will increase the import of soy and will account for more than half of global purchases within 10 years, the EU forecasts.

The EU Directorate-General for Agricultural and Rural Development said that greater income will boost consumption of agricultural commodities in China, and the country's imports of soy will represent 57 percent of the world total, from 44 percent in 2006.

Rising imports of soy into China, worth US$11.5 billion last year, will benefit the US, Brazil and Argentina.