July 23, 2014


China increases soy imports as feed demand rises



China is increasing imports of soy with rising demand for feed and falling prices of the crop, according to Bloomberg News.


China, the world's biggest consumer of soy, imported about 2 million tonnes of soy last week after prices dropped in early July to the lowest in almost four years. The Bloomberg survey also shows that China's soy imports in the year beginning Oct. 1 may rise 7% to 73 million tonnes.


China buys over 60% of the world's soy. The increase in the country's imports will help absorb a global glut of soy and slow a further slide in prices, which fell 7.5% this month in Chicago.

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