August 29, 2012

China's yearly soy production capacity has reached 125 million tonnes while production mills' average operating rate has declined below 50%.

The country's soy crushing capacity has increased 30 million tonnes in the past two years and the industry is facing severe overcapacity.

The China National Grain and Oils Information Centre (CNGOIC) predicts that crushing companies will consume 63 million tonnes of soy in the marketing year of 2012-2013 beginning from October 1. It also estimates soy consumption in the 2011-2012 marketing year will probably approach 60 million tonnes.

China consumed 55 million tonnes of soy in the marketing year of 2010-2011.

The country imported 34.92 million tonnes of soy in the first seven months of this year, up 20.1% on year.