July 7, 2009
China June soy imports seen 4.36 million tonnes
Soy imports delivered to China are expected to reach 4.36 million tonnes in June, according to the latest forecast by the China National Grain and Oils Information Centre (CNGOIC).
China has recently sourced its soy from South America as it has not purchased from the US for two straight weeks in May.
According to the shipment schedule, China's soy imports from the US are estimated at 360,000 tonnes in July while its soy imports from South America at four million tonnes, up nearly one million tonnes over the year earlier period.
The country's soy imports are projected to reach 30.48 million tonnes in the first nine months of the crop year 2008-09 (October 2008 - June 2009), which will represent an increase of 4.13 million tonnes over the same period of the previous crop year,
The monthly soy imports in the first three quarters of 2008-09 all maintained at above three million tonnes except for October.
CNGOIC predicted China's soy imports in 2008-09 crop year will amount to 40 million tonnes if the monthly imports can reach three million tonnes in the last quarter of the crop year.
