October 19, 2009

China's soymeal consumption for poultry and hog feed is expected to reach 30.5 million tonnes in the crop year 2008-09, an on-year increase of 5.1 percent, the first time the figure has surpassed 30 million tonnes, according to the latest statistics from the China National Grain and Oils Information Centre (CNGOIC).

 

The centre attributed the rise in consumption to China's strong demand for eggs, chicken and pork during the year. The rising pork prices and the recovery of poultry meat prices since May have brought more farmers into the industry, which led to an increase in soymeal production.

 

According to the CNGOIC's figures, China's soy imports are expected to reach 41.1 million tonnes in the crop year 2008-09, a rise of 8.7 percent compared to the same period last year. Meanwhile, China's soymeal harvest is expected to reach 33.03 million tonnes, an on-year increase of 9.8 percent.

 

In the first 11 months of the crop year 2008-09, China exported 895,000 tonnes of soymeal, 330,000 tonnes more than the previous year.