December 15, 2003

China's Soybean Imports in Jan-Nov Up 87% From Last Year

China imported 19.18 million tons of soybeans in the January-November period, up 87% from the same period last year, the International Business Daily reported on Saturday, citing official customs figures.

The paper did not give figures for the month of November.

Official figures showed China imported 18.4 million tons of soybeans in the first 10 months of this year.

China, the world's top soybean buyer, is likely to import more than 20 million tons of soybeans in 2003 to meet demand from its oil crushing industry, traders say.