March 2, 2004

China Imported 1.2 Million MT Of Soybeans In February

China received around 22 cargoes of imported soybeans in February, a local trader tracking shipments said Tuesday.
 
The total quantity imported is estimated around 1.20 million metric tons of soybeans, the trader from a Hong Kong-based oilseeds company said.
 
China's soybean imports have seen a decline since January, as crushers slowed the pace of imports amid soaring Chicago Board of Trade soybean prices and weak demand from the feedstuff industry.
 
In January 2004, China imported 1.98 million metric tons of soybeans, 53.1% higher than in January 2003, according to official customs data.
 
Imports in March are expected to slow further, traders tracking shipments said.
 
In 2003, China imported 20.74 million tons of soybeans, up 83% from imports in the previous calendar year.