China January soya imports seen down

China, the world's top soya buyer, is likely to import 4.57 million tonnes of the oilseed in January, down 15.6 percent from actual arrivals of 5.42 million tonnes in December, according to the latest estimate by the Commerce Ministry. The projected January import level is also 11 percent lower than a year earlier, with part of the difference attributed to crushers shutting down during the Lunar New Year holiday, which falls in January this year.
The ministry's estimate is in line with that offered by traders. In a report on Thursday, the China National Grain and Oils Information Centre (CNGOIC) said despite the lower January figure, imports in the first quarter were likely to be higher than a year earlier. It did not give an estimate. The centre estimated January imports at 4.3 million tonnes. The ministry's data, based on reports from buyers, fails to include all shipments but still provides a reference to gauge supplies.