MARKET DEVELOPMENT
China Feb Soy Imports Rise 6 Pct on Year Amid Holiday - Customs
China Feb Soy Imports Rise 6 Pct on Year Amid Holiday - Customs
08/03/2016 (Reuters) - China's soy imports rose 5.9 percent in February from a year earlier, official customs data showed on Tuesday, slightly above expectations.
China, the world's top buyer of the oilseed, shipped in 4.51 million tonnes of soy in February, which included the week-long Lunar New Year holiday, down 20.3 percent on January's imports of 5.66 million tonnes.
Analysts had expected February imports to be around 4 million tonnes, due in part to delays in shipments, particularly from Brazil, the world's top soy exporter.
Most Chinese crushers shut down early in February ahead of the traditional Spring Festival holiday.
Official customs data showed China also imported 400,000 tonnes of edible vegetable oils in February, up 14.8 percent on the year but down 32.6 percent on the month. China imports mainly palm oil, soyoil and rapeseed oil.
China, the world's top buyer of the oilseed, shipped in 4.51 million tonnes of soy in February, which included the week-long Lunar New Year holiday, down 20.3 percent on January's imports of 5.66 million tonnes.
Analysts had expected February imports to be around 4 million tonnes, due in part to delays in shipments, particularly from Brazil, the world's top soy exporter.
Most Chinese crushers shut down early in February ahead of the traditional Spring Festival holiday.
Official customs data showed China also imported 400,000 tonnes of edible vegetable oils in February, up 14.8 percent on the year but down 32.6 percent on the month. China imports mainly palm oil, soyoil and rapeseed oil.