China's Appetite For Soybeans Seen Continuing In Q1 2010
China's National Grain and Oils Information Centre sees the country's appetite for soybeans continuing unabated in the first quarter of 2010.
January and February imports are forecast at 4.2 MMT each per month, with a slight dip in March requirements to 3.8 MMT. That brings Q1 imports to 12.2 MMT, almost 20% higher than the 10.2 MMT shipped into the country in 2009.
That would appear to get the nation on track to import a record amount of soybeans in 2010, beating the 42.55 MMT imported in 2009, according to the state-sponsored think-tank.
That might sound bullish, but let's say they increase their requirements to a record 45 MMT this year, up 2.5 MMT from 2009. Output from lowly Paraguay alone is seen increasing by more than that this year.
January and February imports are forecast at 4.2 MMT each per month, with a slight dip in March requirements to 3.8 MMT. That brings Q1 imports to 12.2 MMT, almost 20% higher than the 10.2 MMT shipped into the country in 2009.
That would appear to get the nation on track to import a record amount of soybeans in 2010, beating the 42.55 MMT imported in 2009, according to the state-sponsored think-tank.
That might sound bullish, but let's say they increase their requirements to a record 45 MMT this year, up 2.5 MMT from 2009. Output from lowly Paraguay alone is seen increasing by more than that this year.