Government buys 120,000 tonnes of soybeans, 65,000 tonnes of soymeal

Importers have recently purchased about 120,000 tonnes of soybeans, to be sourced optionally from Brazil or the United States Gulf, as the Asian country continues to see firm demand for oilseeds, European traders said on Thursday.
The soybeans are mostly for shipment between January and April 2017 and were bought in the past 15 days, they said.
Importers also in the past 10 days bought about 65,000 tonnes of soymeal from Argentina for November/December 2016 shipment, they said.
The Argentine soymeal comprised one consignment of about 40,000 tonnes and one of 25,000 tonnes with prices ranging between $360 and $375 a tonne c&f Karachi, they said.
"Pakistan is looking for further soybean purchases for July 2017 onward shipment," one trader said.
Pakistan has been a heavy buyer of soybeans from North America and South America in recent months as local processors increased seed crushings. Import tariffs have helped boost purchases of oilseeds rather than imports of processed oilseed meals for animal feed.
"Pakistani feed mills are looking also to buy Argentine soymeal for shipment from December 2016 onward as local crushing is not able to meet all the demand of the local feed industry," the trader said.
Pakistan also recently bought 20,000 tonnes of sunflower meal from the Black Sea region for November shipment.
Some 3,000 to 4,000 tonnes of Indian-origin oilmeals have also been purchased for delivery to Pakistan by truck, a trader said.