October 25, 2004

China's Soybean Output To Top 18 Million MT In 2004

China's soybean production is expected to climb to a record high of more than 18 million metric tons this year, up 17% from 2003, an official at a research unit affiliated with the State Grain Bureau said Friday.

Heilongjiang, the largest soybean-producing province in the country, is likely to produce 6.50 million tons of soybeans this year, 889,000 tons more than last year, said Cao Zhi, a deputy manager at the China National Grain and Oils Information Center.

Cao said the CNGOIC now expects China to import a total of 19.5 million tons of soybeans in the 2004-05 crop-year that began Oct. 1. Domestic demand for soybeans in the current crop-year is forecast at 36.1 million tons, up 9.5% from 32.91 million tons in last year.