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UPDATE 1-China April Soy Imports Down Around 18 Pct on Year - Customs
calendar08-05-2015 | linkReuters | Share This Post:

08/05/2015 (Reuters) - China imported 5.31 million tonnes of soybeans in April, down 18.3 percent from a year ago after a truck strike in early March in Brazil, the world's top exporter, delayed shipments.

"The strike has led to short supply of soymeal in the domestic market as crushers were running at a low capacity," said Li Lifeng, an analyst with an industry website (www.cofeed.com).

Chinese crushers are gradually increasing production this month following large arrivals of soybeans from South America, said Li.

China's monthly imports of soybeans from May to July are expected to rise sharply to between 6.5 million and 7.5 million tonnes, a senior trader said.

The country is the world's No.1 importer of the oilseed, accounting for over 60 percent of global-traded volume.

Expectations of large imports have pressured domestic soymeal <0#ASSOYMEAL-CN> and soyoil <0#ASSOYOIL-CN> prices.

Imports in the first four months of the year fell 4.1 percent on year to 20.94 million tonnes, according to data published by the General Administration of Customs.

China imported 520,000 tonnes of edible oils in April, up 44.4 percent on year. Imports in the first four months fell 36.6 percent to 1.57 million tonnes. China imports palm oil, soyoil and rapeseed oil.

($1 = 6.2080 yuan)