November 28, 2008
The volume and value of Shandong Port's soy imports increased in the first 10 months of 2008 by 41.4 percent and 150 percent year-on-year respectively to 6.813 million tonnes and US$4.08 billion.
The average price surged by 75.5 percent to US$598 per tonne.
In October however, the port's soy import volume slumped and the price dropped by 15.3 percent year-on-year and by 63.2 percent month-on-month from 990,000 tonnes in September, the largest single month volume this year, to 365,000 tonnes. In the month, the average price continued to be high at US$614 per tonne.
Shandong Port's largest soy import source was the USA with the import volume standing at 3.121 million tonnes, increasing by 42.1 percent year-on-year and accounting for 45.8 percent of the Port's total soy imports. In addition, the imports from Brazil and Argentina stood at 1.84 million tonnes and 1.78 million tonnes respectively, up by 7.4 percent and 110 percent year-on-year.