June 18, 2009

China's soy imports are expected to reach 4.36 million tonnes in June, according to the latest forecast by the China National Grain and Oils Information Centre (CNGOIC).

With no US soy imports for two consecutive weeks by the end of May, China turned to South America for imports.

Based on the shipment schedule, China's soy imports from the US are estimated at 360,000 tonnes in June while imports from South America will reach four million tonnes, an on-year increase of about one million tonne.

China's soy imports are predicted to hit 30.48 million tonnes in the first nine months of the crop year 2008-09 (October 2008 - June 2009), which will represent a rise of 4.13 million tonnes compared to the same period of the previous crop year.

Meanwhile, the monthly soy imports in the first three quarters of 2008-09 were all maintained at above three million tonnes except for October.

For the 2008-09 crop year, CNGOIC predicted China's soy imports will total to 40 million tonnes if the monthly imports can reach three million tonnes in the last quarter of the crop year.