China's commerce ministry has revised the country's soya imports in March to 3.9 million tonnes, up from earlier estimates of 3.65 million tonnes. The March figure is 68 percent higher than imports in February, when imports fell to the lowest since November 2008, due to poor crushing margins. Beijing has taken a series of measures to cool domestic prices of edible oils.
A recovery in soyameal after the Lunar New Year has improved crushing margins for soya plants. The ministry expected imports by the world's top buyer at 3.42 million tonnes in April, according to the ministry's data published on Tuesday. The ministry's data, based on reports by buyers, fails to catch all shipments but provides a reference to help gauge supplies.
Palmoil imports in March were seen at 183,930 tonnes while imports in April were seen at 204,557 tonnes, according to the ministry's figure. Buyers report no soyaoil imports for March while imports in April were seen at 30,498 tonnes, figures showed.
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