September 13, 2010

China's Jan-Aug soy imports reach 35.53m tonnes

China imported 35.53 million tonnes of soy from January to August, an increase of 20% on-year, according to statistics released by the General Administration of Customs on Friday (Sep 10).

The import price averaged US$437.9 per tonne, up 1.9% on-year.

Imports in August came to 4.77 million tonnes, down 3.6% from July.

Meanwhile, the Chinese government has been carrying out policies supporting the domestic soy industry, which includes building up temporary soy reserve and restricting certain soyoil imports, ever since large-scale production halt appeared in soy producing companies in Heilongjiang since February.