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December 29, 2008


China sees January soy imports at 2.98 million tonnes

 
 
China's commerce ministry predicts that the country's soy imports in January will hit 2.98 million tonnes, increasing 1.7 percent from estimated imports of 2.93 million tonnes.


The soy import figures from the commerce ministry did not show a drop in January's imports as predicted by traders as Chinese crushers would decrease production with the coming of the week-long Lunar New Year holidays.


Traders expect that China's imports for December and January would be around 3.5 million tonnes each.


Crushers in the north had shifted to imports as local prices were more expensive than imports after the government bought domestic supplies for the domestic reserve.
 

The following table shows the ministry's estimates of arrivals and loadings of soy as well as soyoil and palmoil as reported by buyers at mid-December.
   

 

Arrivals Monthly (Tonnes)

 

 

Dec 1-15

Dec 16-31  

Dec

Jan

Soy

1,368,928

1,564,517

2,933,444

2,979,505

Rapeseed

0

82,808

82,808

55,000

Soyoil

31,500

12,000

43,500

9,600

Palm oil

225,168

193,242

418,410

50,300

Rapeseed oil

7,600

25,600

0

0

Soymeal

11,975

24,165

36,139

24,938

 

Loaded Monthly (Tonnes)

 

 

Dec 1-15

Nov 16-31

Dec

Jan

Soy:

 

 

 

 

Argentina

66,937

0

108,000

50,000

U.S.

 

 

 

 

(Gulf)

497,380

405,321

1,340,809

529,667

(PNW)

56,974

253,851

345,035

482,000

Others

109,119

29,458

374,170

130,000

Total

730,410

688,630

2,168,014

1,191,667

Soyoil:

 

 

 

 

US

 

 

 

 

Brazil  

0

0

8,000

0

Argentina

0

0

1,600

15,000

Soymeal:

 

 

 

 

India

3,693

980

29,627

1,500

Palm oil:

 

 

 

 

Indonesia

53,752

107,429

87,454

2,000

Malaysia

116,112

114,173

216,623

12,000

Others

6,150

4,000

16,900

12,500

Total

176,014

225,601

320,977

26,500

Rapeseed:

 

 

 

 

Canada 

22,000

60,500

66,000

0

Rapeseed oil:

 

 

 

 

Canada 

7,600

0

25,600

0

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