June 9, 2009
China June soy imports likely to hit record high
China's soy imports in June are likely to reach a record high level of 4.617 million tonnes, according to a report by the Ministry of Commerce issued Monday (June 8).
It also cut its forecast for soy imports in May to 3.96 million tonnes from earlier estimate of 4.29 million tonnes, according to the report published on the ministry's Web site.
The estimate was based on importers' reports during the May 16-31 period, and the regular forecast is usually lower than the actual as it doesn't include all cargoes.
China imported 3.71 million tonnes of soy in April, up 55 percent on year.
The ministry issues the estimates twice a month.
Below is a chart showing the ministry's updated forecasts for the import volume of six agricultural products (numbers are in tonnes):
|
　 |
Estimate for May |
Estimate for June |
|
Soy |
3,957,878 |
4,617,442 |
|
Soyoil |
186,131 |
283,247 |
|
Soymeal |
0 |
0 |
|
Palm oil |
298,531 |
260,212 |
|
Rapeseed oil |
57,438 |
0 |
|
Rapeseed |
165,148 |
177,240 |
