1. Friday May 25, 2018
      Home > BUSINESS
      Text:| Print|

      Soybean imports from US to decline

      2012-06-07 10:36 China Daily     Web Editor: Zhang Chan comment
      A soybean farm near Tangara da Serra, Brazil. China's large imports of Brazilian beans last fall will further dent its imports from the United States, a regional director at the American Soybean Association said on June 6, 2012. [Photo/Agencies]

      A soybean farm near Tangara da Serra, Brazil. China's large imports of Brazilian beans last fall will further dent its imports from the United States, a regional director at the American Soybean Association said on June 6, 2012. [Photo/Agencies]

      The American Soybean Association said it expects China, the world's largest soybean consumer, to import less soybeans from the United States this year, thanks to Chinese government measures last year to contain the country's inflation rate by releasing a large amount of State reserves.

      The country's large imports of Brazilian beans last fall will further dent its imports from the US, Paul Burke, ASA North Asia region director, said on Wednesday. But he did not disclose the exact amount of the reduction.

      However, driven by its burgeoning livestock industry and ongoing urbanization, China's soybean imports were estimated to continue growing in the long term, Burke added.

      China is currently the largest overseas market for US soybean farmers. The country imported 52.6 million metric tons of soybeans last year, nearly half of which came from the US, accounting for 60 percent of total US soybean exports in 2011.

      In February, a Chinese trade delegation consisting of major State-owned food companies such as China National Cereals, Oil and Foodstuffs Corp and China Grain Reserves Corp, also known as Sinograin, signed a historic $6.7 billion contract to buy 13.4 million tons of US soybeans.

      But given soy oil processors' limited purchases of State reserves, Chinese analysts said the State reserve had only a limited effect on the country's soybean imports from the US.

      Gao Yanbin, an analyst with SWS Research Co Ltd, reckons the reduction in soybean imports this year, caused by the release of stocks from the State reserves, could amount to 1 million tons at most.

      In the meantime, the pressure of an economic slowdown in China would prevent oil processors from replenishing their inventory, said Ma Wenfeng, a senior analyst at Beijing Orient Agribusiness Consultant Ltd, one of the largest consultancies in the industry.

      "Chinese consumers, especially those living in big cities, are starting to question the safety of soybean oil made from genetically modified soybeans," Ma added. That would affect the country's demand for US soybeans.

      In a bid to contain inflation, the Chinese government started releasing its national reserve of soybeans at the end of 2010, in order to stabilize the price of cooking oil.

      But most of the national reserve has remained untouched over the past two years, as domestic soybeans are generally more expensive than imported beans.

      In last month's auction, however, domestic soybeans became popular with oil processing companies, largely as a result of the high price of soybeans on the international market, driven up by a drought in South America and a global tight supply. But even so, only 300,000 tons of soybeans were sold to the companies.

      During the first four months of this year, China's soybean imports jumped by 22.3 percent year-on-year to 18.2 million tons, according to the General Administration of Customs.

      Comments (0)

      Copyright ©1999-2011 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 日韩欧美亚洲中文乱码| 亚洲中文字幕第一页在线| 国产精品成人免费一区二区| 久久久免费精品re6| 无码av免费网站| 99ee6热久久免费精品6| 最近免费中文字幕大全免费版视频| 成人爽a毛片免费| 亚洲免费观看视频| 免费网站看av片| 最近中文字幕完整免费视频ww| 91在线老王精品免费播放| 99久久人妻精品免费一区| 无码日韩精品一区二区免费暖暖| 香蕉免费一区二区三区| 亚洲免费在线观看视频| 皇色在线视频免费网站| 性xxxx视频播放免费| 国产禁女女网站免费看| 亚洲女人被黑人巨大进入| 毛茸茸bbw亚洲人| 亚洲AV无码乱码国产麻豆| 久久精品亚洲精品国产色婷| 亚洲一区二区三区亚瑟| 亚洲国产精品无码第一区二区三区| 亚洲av纯肉无码精品动漫| 五级黄18以上免费看| a毛片免费全部在线播放**| 免费国产在线视频| 亚洲免费电影网站| 国产日产成人免费视频在线观看 | 亚洲精品无码久久久久APP| 亚洲日韩一中文字暮| 一级毛片正片免费视频手机看| 国产一级黄片儿免费看| 亚洲精品在线免费看| 免费观看的av毛片的网站| 亚洲精品国产精品乱码不卡| 亚洲大尺度无码专区尤物| 国产成人精品日本亚洲11| 麻豆va在线精品免费播放|