Soybean-Oil Imports by China May Be 200,000 Tons Monthly Through September

Friday, 16 July 2010

China, the world’s biggest consumer of vegetable oils, may import about 200,000 metric tons of soybean oil each month from July to September, the portal Grain.gov.cn said in an e-mailed report. The prediction compares with about 40,000 tons of incoming shipments in June, it said. Brazil is the largest supplier, with about 80 percent, while the U.S. ships the rest, it said. No shipments are likely from Argentina as China began to toughen quality requirements on its soybean oil exports in April, it said. Buyers in China have stopped signing purchase agreements with Argentina, it said. Argentina was the largest soybean oil supplier prior to that, customs data show.

Source: Bloomberg