'China's 2010-11 soyabean imports likely to rise'

China's October 2010/September 2011 soyabean imports are likely to rise by 5.5 million tonnes on the year to 55.8 million as its economic growth fuels demand, Hamburg-based oilseeds analysts Oil World said on Tuesday. This means China will account for 58 percent of forecast 2010/11 world soyabean imports, up from 57 percent in 2009/10 and only 41 percent in 2006/07, Oil World said.
The European Union, the world's second-largest soyabean importer, is likely to increase its 2010/11 soyabean imports by 1 million tonnes on the year to 14.3 million tonnes following a poor rapeseed crop last year, Oil World said. Increases in 2010/11 soyabean imports are also expected in Russia, North Africa, South Korea and Thailand, it said. "The global dependence on soyabeans and products is going to increase significantly in the 2010/11 season owning to increasing overall demand and insufficient supplies of other oilseeds and products," the analysis firm said.
US soyabean exports will be kept at a higher-than-expected volume in March because of rains that are delaying Brazil's crop, it said. US 2010/11 soyabean exports are likely to rise to 42.70 million tonnes from 40.88 million tonnes last season, it forecast.