November 28, 2008
In the first 10 months of 2008, Guangxi Zhuang Autonomous Region's soy import volume increased by 25.5 percent year-on-year to 2.126 million tonnes with the value standing at US$1.32 billion, up 2.2-fold.
More specifically, Guangxi's average monthly soy import price surged by 76 percent year-on-year to US$621.6 per tonne. The Region's soy import price has been climbing fast since January but after it hit a ceiling in August at US$ 707.1 per tonne, it has started dropping again.
In October, the average monthly import price dropped by 10.9 percent over September to US$ 553.7 per tonne, touching the lowest point this year.