November 19, 2003

China's Soybean Imports Drop for the Month of October, 2003

An eFeedLink Exclusive Report

China has slowed down soybean imports in October, according to the latest statistics released by China Customs Authority. For the month of October 2003, China imported a mere 690,000 tons of soybeans. However, soybean imports between January and October still totaled 18.4 million tons, registering an increase of 111.3% over the same period last year.

According to China Customs Authority, the country's total imports and exports for the month of October continue to rise. The total imports and exports value for the month of October is US$76.12 billion, showing an increase of 38.1% versus the same period last year.

China's total imports value in October is US$35.19 billion, which was a growth of 39.7% over the same period last year. Despite the change in export tax rebate policy and the influence of the week-long China's National Day holidays, China's total exports value in October still reached US$40.93 billion, registering an increase of 36.7%.