China'ssoyimports to hit highest in six years

Keyword:
Publish time: 20th October, 2014      Source: www.cnchemicals.com
Information collection and data processing:  CCM     For more information, please contact us
   


October 20, 2014

   

   

China's soyimports to hit highest in six years

   
   
   

According to the latest report from USDA, China's soy imports for MY13/14 is estimated at 69 million tons, up from the 68 million tons in previous report. The report also forecasts China's soy imports for MY14/15 to reach 72 million tons, which will be the highest in last six marketing years.

   

   

Based on Global Trade Atlas (GTA) statistics, China's total soy imports for the first three quarters of MY13/14 has reached 51.83 million tons, increased 24.6% year-on-year.

   

   

China's CNGOIC attributed the MY13/14 high import growth to strong consumption demand for protein meal as domestic supply was unable to meet the large crushing capacity. According to industry sources, the increased use of soymeal by China's feed industry also contributed to the rising demand.