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China imported 4.62 million tons soybean in February, 2014

China Agriculture Report By CnAgri2014-04-16 09:40:44China Agriculture Report Print
Keywords:Soybean Import
According to statistical data from China's General Administration of Customs, China’s import volume of soybean in March, 2014, was 4.62 million tons, down 3.95% from last month, up 20.27% year on year; from January to March, China imported 15.34 million tons soybean accumulatively, up 33.16% from the same period last year. The main reasons for why customs’ statistical data is lower than market expectation:
1.    In March, congestion phenomena appeared in some ports in the North successively, which made the arrival of some soybean cargoes delayed to April.
2.    The navigational speed of some South American cargoes was slowed down compared with previous period, which made the arrival of some soybean cargoes delayed to April.
3.    Reuters reported that about five to six cargoes (Panamax carrier) soybean arrived at port couldn’t be discharged for buyers couldn’t open LC.
In conclusion, the arrival of soybean in April is predicted to be intensive, port inventory pressure is greater.

From “China Oil and Oilseeds Market Weekly Report”

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