September 21, 2007

China 2007/08 soy output to fall 18 percent: Louis Dreyfus
 

China's soybean output in the 2007/08 crop year is likely to fall 18 percent to 13 million tonnes from 15.97 million tonnes in 2006/07, due to a drought in major soy producing regions, a commodities trading company said September 21.

The country's soybean imports in the 2008/09 crop year starting October 2008 will likely rise to 34 million tonnes to meet domestic demand, Zhu Yufeng, general manager of grain, oilseeds and sugar at Louis Dreyfus Commodities (Beijing) Trading, said during the Third JCI China Feed Market Conference.

China's soybean output in 2006/07 crop year totalled 15.97 million tonnes, according to think tank China National Grain and Oils Information Centre.

"With global inventory falling, acreage in Brazil has to rise to curb the rising soybean prices," he said.