October 27, 2011
China's soy imports will likely reach 56 million tonnes in the crop year of 2011-12 beginning from October of this year, up 7% over the previous crop year, the state-backed China National Grain and Oils Information (CNGOIC) said Wednesday (Oct 26).
Booming demand from the animal feed industry is expected to be a major force to drive up the country's soy imports, industry insiders said.
The country imported 52.34 million tonnes of soy in the year ending September 30, up 4% over the 2009-10 crop year, the centre said.
CNGOIC also predicted that China would import about four million tonnes of soy in October, compared with the 4.13 million tonnes imported in September.