June 15, 2012

China lifts June soy imports forecast to 6.56 million tonnes

The soy import of China to be delivered to ports in June is seen to reach 6.56 million tonnes, the Ministry of Commerce (MOC) says in a report Wednesday (June 13).

The projection is significantly higher than the ministry's earlier estimate of 5.16 million tonnes.

The MOC said that 6.49 million tonnes of soy were delivered to Chinese ports in May.

The report is based on importers' shipments from May 16 to 31. The MOC regularly releases its estimates twice a month and the figures are usually slightly different from those released by the General Administration of Customs (GAC).

The following table shows the MOC's estimates on China's imports of soy, soy oil, palm oil, and rapeseed oil in May and its projections for those products' imports in June.