China’s March soyabean imports down
April 13, 2013
China, the world’s top soyabean buyer, imported 3.84 million tonnes of the oilseed in March, up 32.4 percent from February but down 20.5 percent from a year ago as port congestion in Brazil delayed some shipments. Chinese imports are expected to pick up from March after a seasonal slowdown in the first two months, but outbreaks of a new strain of bird flu in some areas could hurt restocking of soyameal for feed for poultry, traders said.
While it is still too soon to estimate the impact on soyameal demand, China’s soya imports are expected to grow at least for the next three months, according to official estimates. The commerce ministry forecasts April imports at 5.7 million tonnes, the highest so far this year. Meanwhile, imports could pick up to more than 6 million tonnes in May and June, according to estimates by the China National Grain and Oils Information Centre (CNGOIC).
Imports have been hit by problems shipping from Brazil, but the world’s second-largest soya exporter expects port congestion to ease this month. China’s March imports bring the country’s total imports in the first quarter of the year to 11.49 million tonnes, down 13.4 percent on year. Source Reuters
Published: Zarai Media Team