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November 28, 2008

                              
China Nov 1-15 soy imports increase on low cost
                  

 

Chinese buyers have reported imports of 1,374,150 tonnes of soy in early November, up 64 percent from late of October, as low costs have encouraged more imports the Commerce Ministry said on Thursday (Nov 27, 2008).

 

Buyers in the world's largest importing country estimated soy imports of 2.69 million tonnes for November and 2.52 million tonnes for December, the ministry said in a report.

 

The ministry's figures were lower than traders' shipment estimates. Traders estimated November and December arrivals at more than 3 million tonnes as Chinese buyers had stepped up imports to exploit a slump in the CBOT and freight rate.

 

Imports of edible oils also increased in November from October, figures showed. Buyers estimated imports of 324,352 tonnes of soy oil and 429,180 tonnes of palm oil in November, said the commerce ministry.

 

The figures were higher than October imports, which official customs put at 202,370 tonnes and 300,130 tonnes, respectively.

 

The following table shows loadings of soy as well as soy oil and palm oil in the Nov 1-15 period and forecasts for November and December as reported by importers by Nov 15.
                                   
Loaded
Monthly
Soy
Nov 1-15
Oct 16-31
Nov
Dec
Jan-09
Argentina
0
364,918
60,000
0
0
Brazil
0
65,512
65,000
0
0
US (Gulf)
405,321
49,000
1,863,885
368,667
55,000
US (Pacific North West)
253,851
361,749
694,022
180,000
55,000
Unspecified
29,458
0
209,038
55,000
0
Total
688,630
841178
2,891,945
603,667
110,000
 
Loaded
Monthly
Soy oil
Nov 1-15
Oct 16-31
Nov
Dec
Jan-09
Argentina
0
72,800
10,000
0
0
Unspecified
0
2,000
0
0
0
Total
0
74,800
10,000
0
0
 
Loaded
Monthly
Soymeal
Nov 1-15
Oct 16-31
Nov
Dec
Jan-09
Indonesia
0
72,800
10,000
0
0
India
980
0
35,730
12,000
0
Unspecified
0
2,000
0
0
0
Total
0
74,800
10,000
0
0
 
Loaded
Monthly
Palm oil
Nov 1-15
Oct 16-31
Nov
Dec
Jan-09
Indonesia
107,429
11,740
136,109
0
0
Malaysia
114,173
52,081
231,457
28,200
12,000
Unspecified
4,000
0
18,020
20,000
0
Total
225,601
63,821
385,586
48,200
12,000
 

Loaded

Monthly

Rapeseed

Nov 1-15

Oct 16-31

Nov

Dec

Jan-09

Canada

600,500

0

120,508

55,000

0

Rapeseed oil

0

5,000

0

0

0

Unspecified

710

0

710

0

0

Total

710

5,000

710

0

0

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