News
09.06.2009
China cuts May soya import forecast, ups June
China's Commerce Ministry has revised downward its estimate for the country's soyabean imports in May, to 3.96 million tonnes from 4.29 million tonnes. In its twice-monthly report, the ministry also revised up the June import forecast to a record 4.62 million tonnes, it said in a report on its web site.
China, the world's largest soya importer, brought in 3.71 million tonnes in April. Chinese customs will issue figures this month based on actual arrivals. The revised forecasts showed China's imports in May and June likely totalled 8.58 million tonnes, higher than the ministry's earlier figures for the two months at 8.4 million tonnes.
It was not clear whether Chinese buyers have delayed some May shipments to June. The ministry's estimates, based on reports from buyers, does not capture all shipments but gives a general picture of the direction of trade.
Reuters
