June 8, 2012

China's June soy imports may reach six million tonnes

The June soy imports of China is likely to touch six million tonnes, the state-backed think-tank China National Grain and Oils Information Center (CNGOIC) said on Thursday (June 7).

The imports in the May to June period would likely top 12 million tonnes, the centre noted.

The country may slow down the pace of soy importing in the third quarter. The CNGOIC predicted that China would import about 13.5 million tonnes of soy in the July to September period.

The think-tank earlier forecast that China's soy imports would likely reach 58 million tonnes in the crop year of 2011-2012 beginning from October of last year, a jump of 11% from the previous crop year.