China, the world's largest soya buyer, is expected to import 5.39 million tonnes of the oilseed in December, 0.7 percent less than in the same month a year ago, according to the latest estimate by the commerce ministry published on Tuesday. The December figure represents the second highest monthly import this year, after November's 5.7 million tonnes, which was the second highest ever.
Chinese crushers have increased purchases as crushing margins improved and along with a recovery in seasonal demand ahead of the Lunar New Year holidays next month. The December figure would raise the country's 2011 total imports to 52.6 million tonnes, 4 percent lower than in 2010. Analysts attributed the decrease to a large release of soya and edible oil reserves earlier in the year when Beijing was keen to tame food price rises.
The ministry's figures, based on reports by buyers, fails to include all shipments but still provides a reference to gauge supplies. The following table shows imports of soyabeans, soya oil, palm oil, and rapeseed oil in December as reported by the ministry.
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