China soybean imports seen up 5pc in 2012

NUSA DUA: Chinese soybean imports will rise at least 5 percent next year, boosted by growing demand from pig and poultry farmers coupled with the country's emphasis on corn self-sufficiency, the American Soybean Association said on Monday.

China, by far the world's top soybean importer, is expected to import about 57 million tonnes for the year ending Aug. 31, 2012, versus 53-54 million tonnes the year before, Danny Murphy, treasurer at the American Soybean Association, told Reuters.

"China is such a huge, huge market for US and for Brazilian and Argentina beans," said Murphy in an interview. "They've been increasing at such a strong pace, I would expect it to continue to grow at at least 5 percent or more."

Copyright Reuters, 2011