June 12, 2012

China's soy imports climb by 16% 

In May 2012, the soy imports of China have increased by 16% brought about by higher demand for the commodity from farmers who require soy to feed a hog herd.

China's soy imports in May 2012 rose by 16% to 5.28 million tonnes against May 2011, General Administration of Customs said on Monday (June 11).

The General Administration of Customs had said that China's soy imports in April 2012 had increased by 26% to 4.88 million tonnes against April 2011.

Moreover, China's January-May soy imports were 23.43 million tonnes, up 20.7% from a year earlier

Earlier, the China National Grain and Oils Information Center had stated that China's soy imports during the current marketing year (Oct-Sep) had surged by 11% to 58 million tonnes against 52.34 million tonnes during 2010-2011.

As per government data, the country is the leader among the other countries in the world when it comes to the consumption of soy while the demand for the commodity has increased by two fold since 2004.

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