December 26, 2011

China's soy imports in December will likely reach 6.12 million tonnes, the Ministry of Commerce said Friday (Dec 23).

If realised, this would be China's highest monthly import volume in 18 months. It would be a up 7% compared with November and 13% compared with last December, according to customs data.

Friday's forecast was an upward revision from a ministry estimate two weeks ago, when it said December imports would likely to reach 5.39 million tonnes.

The ministry's estimates are based on reports from importers during the December 1-15 period.

The state-backed China National Grain and Oils Information Centre earlier forecast December soy imports at 5.4 million tonnes.

The ministry's regular forecast may not tally with the actual import figure as it does not include all cargoes. It issues the estimates twice a month.