China soybean imports rise, South America shipments double
Increased demand from poultry, pig meat, aquaculture industries will maintain trend, say researchers
China's soybean imports from September through December 2011 rose 6.3% from the same time in 2010 as shipments from Brazil and Argentina doubled, a trend expected to continue through 2012 on growth from the poultry, pig meat and aquaculture industries, according to reports.
China bought 19.3 million metric tons of soybeans during the September–December 2011 period, with shipments from Brazil reaching 4.57 million metric tons (up from 1.54 million metric tons in 2010) and shipments from Argentina reaching 3.15 million metric tons (up from 1.52 million metric tons), according to Oil World. U.S. soybean shipments to China fell by 23%.
“This indicates a turnaround in Chinese soybean imports,” said Oil World. “Considering shipping time, arrivals of soybeans at Chinese ports will show a similar increase by about 1.1 million to 1.2 million metric tons from a year earlier in October/January 2011/12.”