07/11/05 SHENYANG (Asia Pulse) - China's bean oil price is expected to fall further in November as new domestic production is put on the market and more imports from the United States are delivered, according to an autumn grain trade fair here on October 28.

At present, China's inventory of imported soybeans is as much as about 3.3 million tons. The import delivery was estimated at 1.94 million tons in September and about 1.8 million tons in October, including 1.5 million to 1.6 million tons from South America.

The cumulative import delivery for the 2004/05 crop year is estimated to reach 24.94 million tons.

Starting from November, soybean imports from the United States will begin to increase. Meanwhile, new output from Northeast China, the country's top soybean production base, will enter processing factories in northeast and north China in large quantities.

Experts say this may lead to oversupply on the domestic soybean market, which may lead to increase of imported soybean stockpiles at ports and further pull down the domestic bean oil price.

Recently, the soybean purchase price in the northeast province of Heilongjiang was 2,400 yuan (US$297) to 2,480 yuan per ton, lower than the level in the previous period.