Arab Today, arab today china’s monthly soybean imports hit 2year high
Last Updated : GMT 06:51:35
Arab Today, arab today
Arab Today, arab today

China’s monthly soybean imports hit 2-year high

Arab Today, arab today

Arab Today, arab today China’s monthly soybean imports hit 2-year high

Beijing - QNA

China’s monthly soybean imports rose to a two-year high of 5.87 million tonnes in July despite an ongoing drought in the United States that has pushed up global soybean prices since mid-June, according to customs data released . Statistics from the General Administration of Customs showed that July’s soybean imports increased by 4.4 percent from the previous month to reach 5.87 million tonnes, the highest monthly level since June 2010. Chinese soybean importers have rushed to build up their stocks in the first half, as global soybean prices were lower than in the previous year, according to China’s (Xinhua) News Agency. In the first seven months, China imported 34.92 million tonnes of soybeans, up 20.1 percent year on year. Analysts expect China’s soybean imports to drop in coming months following a rebound in global food prices. Chinese soybean refiners rely on imports for about 80 percent of their supplies, as foreign soybeans are much cheaper. The U.S., the world’s largest exporter of soybeans, corn and wheat, has been struggling since mid-June with the most severe drought to hit the country in more than five decades. The drought has driven soybean and corn prices to record highs. Prices for soybean contracts on the Chicago Board of Trade have jumped 30 percent since the beginning of June. Although a substantial decline in imports is likely, China’s domestic soybean crushers will have enough supplies, as homegrown soybeans will be traded in the market starting from October and the government will release more reserves to ensure adequate supplies, the National Grain and Oil Information Center (NGOIC) said. Chinese soybean importers may also turn to Brazil and Argentina for soybeans in the coming months, according to the NGOIC. China’s soybean imports from the U.S. dropped below 700,000 tonnes in June.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china’s monthly soybean imports hit 2year high Arab Today, arab today china’s monthly soybean imports hit 2year high

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china’s monthly soybean imports hit 2year high Arab Today, arab today china’s monthly soybean imports hit 2year high

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday