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China sees record soybean imports

11/14/2013 @ 7:42am

China is on track to import a record 66 million metric tons of soybeans this year, Dalian Commodity Exchange President Liu Xingqiang said in remarks posted on his bourse's website.

The forecast shows China's imports would increase sharply this year. According to customs data, China had imported 38 million tons of soybean last year.

China has been importing more of the oilseed to feed rising domestic consumption.

Palm oil imports this year are likely to reach six million tons, Mr. Liu said at an industry conference Wednesday. Imports of the edible oil last year totaled 6.34 million tons.

Write to Chuin-Wei Yap at chuin-wei.yap@wsj.com

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(END) Dow Jones Newswires

November 14, 2013 05:49 ET (10:49 GMT)

DJ China 2013 Soybean Imports Likely Record 66 Mln Tons -Official->copyright

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