August 24, 2012

China to receive 5.3 million tonnes of soy for August
 

China's Ministry of Commerce (MOC) expects 5.3 million tonnes of soy imports in August, a higher figure than an earlier forecast of 4.37 million tonnes.

The state-backed think-tank China National Grain and Oils Information Centre earlier predicted that the country's soy imports would fall to 4.5 million tonnes this month as high import prices might suppress demand to some extent.

The MOC also estimated the July soy imports at 5.93 million tonnes, slightly higher than 5.87 million tonnes released by the General Administration of Customs (GAC).

The report is based on importers' shipments from July 16 to 31. The MOC regularly releases its estimates twice a month and the figures are usually slightly different from those released by the GAC.