August 16, 2011

China's soy imports in August are likely to reach 4.5 million tonnes, down 6% from the same period of last year, the China National Grain and Oils Information Centre (CNGOIC) said Monday (Aug 15).

The Ministry of Commerce earlier projected that the country would import 3.85 million tonnes of soy this month.

The state-backed think-tank also predicted that the soy imports this year will drop 5% from last year to 52 million tonnes.

The latest data from the General Administration of Customs show that China imported 29.06 million tonnes of soy in the first seven months, down 5.5% year on-year.