July 14, 2010

China may import 200,000 tonnes of soyoil monthly

China, the world's biggest consumer of vegetable oils, may import about 200,000 tonnes of soyoil each month from July to September, according to the Chinese grain portal.

The prediction compares with about 40,000 tonnes of incoming shipments in June, it said. Brazil is the largest supplier, with about 80%, while the US ships the rest, it said.

No shipments from Argentina have been revealed. The country was the largest soyoil supplier before China stopped signing purchase agreements over quality issues in April.