December 13, 2007

China's soy import price a 30-percent increase from last year

The average price of China's soy imports during the first three quarters of the year at US$339.4/tonne, is a 30-percent increase compared to the same period last year.

Soy-import price reached the monthly record for the year in September, when it  hit US$370.3/tonnes, a 43-percent increase from last year.

China imported 21.7 million tonnes of soy in the first three quarters of the year, valued at US$ 736 million.

Although this was only a 2.1-percent increase in volume, it was a 32.5-percent increase in value, according to statistics from the General Administration of Customs.

China imported 8.4 million tonnes from Brazil and 4.8 million tonnes from Argentina. Volumes from Brazil were down by 10 percent compared to last year while volumes from Argentina remained at similar levels.

Imports from the US however, rose 23 percent to 8.2 million tonnes.