September 14, 2010

China's September soy imports may hit 4.73m tonnes

China is likely to import about 4.73 million tonnes of soy in September, the Ministry of Commerce said Monday (Sep 13).

The estimate is slightly lower than imports in August, when 4.76 million tonnes of soy were imported, according to data last week from the General Administration of Customs. However, such volumes are still historically high.

The forecast for imports this month represents a 72% rise from a year earlier.

The estimate is based on reports from importers during the August 16-31 period. The regular forecast is usually lower than the actual import figure as it does not include all cargoes.

The ministry issues the estimates twice a month.