August 1, 2011

China revises down July soy import estimate

China's soy imports delivered in July are forecast to reach 4.97 million tonnes, lower than the earlier estimate of 5.37 million tonnes, according to the Ministry of Commerce (MOC) Friday (Jul 29).

The estimation is slightly higher than the imports of 4.95 million tonnes in the same period of last year.

The imports delivered in August are estimated at 3.15 million tonnes, the MOC said.

The report is based on importers' shipments from July 1 to 15. The MOC regularly releases its estimate twice a month.

Data from the General Administration of Customs show that China's soy imports reached 4.3 million tonnes in June, down 5.7% from the previous month and 30.65% from the same period of last year.