August 6, 2010

China's soy output may drop 3.3% this year

China's total soy output in 2010 is expected to reach 14.5 million tonnes, down 3.3% from last year, the China National Grains and Oils Information Centre said Thursday (Aug 5).

The think tank said that soy acreages for this year were already down 4.6% to 8.4 million hectares.

China has been forced to rely on increasingly large quantities of soy imports in recent years, and is estimated to have bought 5.6 million tonnes from overseas in July, the second highest monthly amount ever.

The record highest monthly import volume was set in June, when China bought 6.2 million tonnes.