October 3, 2011
China lowers September soy import forecast
China's September soy imports will likely total 3.94 million tonnes, the Ministry of Commerce said Friday (Sep 30).
The ministry revised down its estimate from an earlier forecast of 4.3 million tonnes based on reports from importers during the September 1-15 period.
The state-backed China National Grain & Oils Information Centre has said September soy imports will likely reach four million tonnes.
China imported 4.64 million tonnes last September.
The ministry said soy imports in October will likely reach 3.36 million tonnes.
The ministry's semi-monthly forecast usually undershoots actual imports as it does not include all cargoes.
