July 13, 2010

China to increase soyoil imports after ban lift

China's soyoil import is likely to rise after the ban on soyoil imports from Argentina is lifted.

The Argentine government said at end-June it reached an agreement with the Chinese government on removing the ban.

China's soyoil imports from Argentina usually accounted for about 80% of its total. It imported 2.39 million tonnes of soyoil last year, with 77% from Argentina.