March 31, 2004

China Received 22 Cargoes Of Imported Soybeans In March
 
China received 22 cargoes of imported soybeans in March, a trader who tracks soybean shipments said Wednesday.
 
"Soybean imports in the March 21-31 period were significantly lower, and the total imports in March are estimated to be 22 cargoes or around 1.20 million metric tons," said the trader from a Hong Kong-based oilseeds company.
 
China's soybean imports in March were sharply lower than imports in March last year, added the trader. In March 2003, China imported 1.86 million tons of soybeans, according to official customs data.
 
In April, Chinese soybean imports are forecast to fall further to 1 million tons, a trader from a local brokerage house said.
 
Chinese buyers have bought three cargoes of U.S. old soybeans in recent weeks, largely because of fears about possible delays in Brazilian soybean shipments, he said.
 
It takes only a month to ship U.S. soybeans to China from the Pacific Northwest, while it takes a month and half from South American ports.
 
In January and February together, China imported 3.82 million tons of soybeans, up 89% from imports in the first two months of 2003, according to official customs data.
 
In 2003, China imported 20.74 million tons of soybeans, up 83% from imports in 2002.
 
China's General Administration of Customs will release the official import figure for March around April 20.
 
The tracking data on soybean arrivals may not necessarily be in line with the customs figures, because the tracking data reflect actual arrivals in a particular month, while the custom figures include all cargoes that were given customs clearance prior to arrival.