September 18, 2003

 

 

China's Jan-Aug Soybean Imports At 14.72M Tons

China imported 14.72 million metric tons of soybeans in the first eight months of the year, according to a report from the China Securities newspaper, a unit of the official Xinhua news agency, Thursday.

   

Official Chinese customs data shows soybean imports in the first seven months totaled 12,267,716 tons. Therefore, based on the figures in the newspaper report, August imports reached about 2.45 million tons, slightly higher than earlier estimates of 2.2 million-2.3 million tons by local Chinese traders and analysts.

   

In the marketing year from October 2002 to September 2003, China's soybean imports are forecast to reach a record 19.5 million tons, according to the latest figure from the U.S. Department of Agriculture. If this forecast is realized, imports will be 87.7% higher than the 10.39 million tons imported in 2001-02.

   

The Chinese customs office is expected to announce official import figures for the first eight months of the year Sept. 20.