July 19, 2010

China's July soy imports to reach 5.8 million tonnes

China is likely to import 5.8 million tonnes of soy in July, the second-largest monthly import level after June's record 6.2 million tonnes, according to figures from the Commerce Ministry.

Buyers also reported 196,520 tonnes of soyoil to arrive this month. No Argentina soyoil would be loaded in the month, according to ministry reports.

The ministry's forecast, based on reports by buyers, is higher than estimates by the official China National Grain and Oils Information Centre (CNGOIC), which put July's imports at about five million tonnes.

The ministry's figures, published twice per month, fail to catch all shipments but provide a reference for buyers to gauge supply.