Home >> Business >> Industry >> Others

China, the world's biggest soybean buyer, may import 30 million metric tons of the oilseed this year, 1 million tons below a previous forecast because of reduced feed demand, the China National Grain & Oils Information Center said.

Hog diseases and avian flu hurt the nation's livestock and poultry industry, cutting expected feed demand, the state-owned market forecaster said in a report today. The projected imports in the marketing year ending Sept. 30 are still up from 28.3 million tons a year ago.

China's soybean imports have risen by about a third in the past five years on growing demand for soybean meal as a protein feed for livestock. A slowing in China's purchases may cool soybean prices in Chicago, which have risen 7 percent this year on speculation U.S. farmers will seed more-profitable corn when planting starts later this month.

>> Full Article

Previous: Nippon Oil, Mitsui Sign Energy Accords With China