July 15, 2010

 

China's soy imports fall one million for 2010-2011 season

After a 49-million-tonne import record this year, China will be importing 48 million tonnes of soy for the 2010-2011 season, the China National Grain and Oils Information Center official said today, July 15.

 

The country's crushing volume will rise by three million tonnes to 51.5 million tonnes, while its domestic soy production will be 14.5 million tonnes in 2010-2011. The ending soy stock level will fall to 410,000 tonnes from the 5.35 million tonnes at the end of 2009-2010 season.

 

China soyoil imports were estimated at 1.5 million tonnes in 2009-2010, down one million tonnes or 40% from a year ago. The imports will rise to two million tonnes in 2010-2011.

 

Domestic soyoil production in the country will rise to 9.43 million tonnes as soyoil consumption will rise to 10.88 million tonnes in 2010-2011.

 

"China's ending stock level of soyoil will fall to 470,000 tonnes by end of 2010-2011, from 480,000 tonnes a year earlier," the official said.