August 15, 2007

Share of US soybeans imported by Taiwan may rise in 2007
 

The share of US soybeans imported by Taiwan may rise to 78 percent this year from about 76 percent last year, Anthony Chang, country director of the American Soybean Association in Taiwan, said Wednesday (Aug 15).

He said an increasing quantity of soybeans is being brought into Taiwan through containers instead of panamax vessels, and since US-Taiwan container traffic is quite high, it would contribute to an increase in US soybean exports to Taiwan.

Chang said about 70 percent of Taiwan's total 2007 soybean imports would be through containers.

"Shipping soybeans through containers is US$5-8/tonne cheaper than dry bulk cargo (panamax vessels)," said Chang.

He added that Taiwan's overall soybean imports in 2007 might remain little changed from those in 2006, at 2.3 million tonnes.