August 23, 2010

China's Heilongjiang sees bumper October soy yield

Heilongjiang province, China's top soy area, is expecting a bumper harvest in October despite plantings being delayed by about 10 days due to a cold, wet spring, said the China National Grain and Oils Information Centre (CNGOIC).

The centre cited the Heilongjiang Soybean Association as saying yields could increase by 10% if the weather was favourable in the later growing period.

The province in the northeast produces about 40% of the country's total output.

The centre in its August report estimated China's total soy harvest this year would fall 3.3% on-year to 14.5 million tonnes. The centre may revise the figure next month.

Meanwhile, local bureaus of Heilongjiang province are formulating policies to revitalise the province's soy industry. The new policies include preventing soy processing enterprises from ceasing production by selling to them with subsidies given, giving price-difference subsidies to soy farmers, restricting the expansion of soy processing capacities by foreign-invested enterprises, as well as restricting soy imports by lifting tariff.