China: Oilseeds and Products Update
Driven by growing demand for animal products, China’s soybean imports are estimated to hit a record 74 million tons in MY14/15, and continue to surge to a forecast 77.5 million tons in MY15/16 (unchanged from previous report). Post’s July forecast for MY15/16 total domestic oilseed production is 3.26 million tons lower than the estimated 57 million tons in MY14/15. Lower domestic production together with growing demand for protein meal and vegetable oil continue to encourage strong imports of oilseeds in MY15/16. Vegetable oil imports stabilize in response to the increase in oilseed imports.
