May grain and grain flour imports reach 2.86 million tonnes
Industry NewsBy Sophie Bennett0 views
May grain and grain flour imports 2.86 million tonnes. Data released by the General Administration of Customs on the 8th shows that in May, China exported 13,147 tonnes of rice; from January to May 2015, cumulative rice exports reached 81,296 tonnes, compared with 63,801 tonnes in the same period last year, an increase of 27.4% year on year. In May, China imported 2.86 million tonnes of grain and grain flour; cumulative imports from January to May reached 12.5 million tonnes, compared with 8.49 million tonnes in the same period last year, an increase of 47.3% year on year. China's soybean imports in May were 6.13 million tonnes, up 2.7% year on year and up 15.4% month on month. From January to May, soybean imports were 27.07 million tonnes, down 2.7% from the same period last year, with an average import price of 2,792.8 yuan per tonne, a decline of 22.8%. In May, imports of edible vegetable oil were 470,000 tonnes; cumulative imports from January to May were 2.05 million tonnes, down 33.3% year on year.
⟦4
<p>
</p>
<p>
<strong>May grain and grain flour imports 2.86 million tonnes</strong> Data released by the General Administration of Customs on the 8th shows that in May, China exported 13,147 tonnes of rice; from January to May 2015, cumulative rice exports reached 81,296 tonnes, compared with 63,801 tonnes in the same period last year, an increase of 27.4% year on year. In May, China imported 2.86 million tonnes of grain and grain flour; cumulative imports from January to May reached 12.5 million tonnes, compared with 8.49 million tonnes in the same period last year, an increase of 47.3% year on year. China's soybean imports in May were 6.13 million tonnes, up 2.7% year on year and up 15.4% month on month. From January to May, soybean imports were 27.07 million tonnes, down 2.7% from the same period last year, with an average import price of 2,792.8 yuan per tonne, a decline of 22.8%. In May, imports of edible vegetable oil were 470,000 tonnes; cumulative imports from January to May were 2.05 million tonnes, down 33.3% year on year.</p>
<p>
<strong>Soybean imports rise, crushing profits may shrink</strong> Analysts said on Monday that China's soybean imports will rise further in the coming months, mainly because South American soybeans ordered earlier are arriving, which may put pressure on crushing profits. Data released by the General Administration of Customs on the 8th shows that soybean imports in May this year reached 6.13 million tonnes, 15.4% higher than in April and 2.7% higher than in the same period last year. Soybean imports in June are estimated to possibly reach as high as 8.5 million tonnes, a level close to the historical record. The reason for the import growth is that South American soybean production hit a record this year, and soybeans previously contracted for import are arriving one after another.</p>
<p>
Because large volumes of imported soybeans arrived in May, and the market expects soybean imports in June to hit a historic high, this has already pushed domestic soybean meal prices down to a new low in 8 years. Lower hog inventories have also hurt soybean meal demand. Analysts pointed out that soybean meal demand this year is worse than last year, and weak soybean meal prices have already led to losses in crushing in Guangdong and Guangxi. In Guangdong, spot soybean meal prices fell to 2,460 yuan per tonne, and some small traders who had previously signed contracts to buy soybean meal at 2,700 to 3,000 yuan per tonne defaulted.</p>
<p>
</p>
May imports of grains and grain flour reached 2.86 million tons Data released by the General Administration of Customs on the 8th show that in May, China exported 13,147 tons of rice. From January to May 2015, cumulative rice exports totaled 81,296 tons, compared with 63,801 tons in the same period last year, an increase of 27.4% year on year. In May, China imported 2.86 million tons of grains and grain flour. From January to May, cumulative imports reached 12.5 million tons, compared with 8.49 million tons in the same period last year, an increase of 47.3% year on year. China's soybean imports in May were 6.13 million tons, up 2.7% year on year and up 15.4% month on month. From January to May, soybean imports were 27.07 million tons, down 2.7% from the same period last year, with an average import price of 2,792.8 yuan per ton, down 22.8%. In May, imports of edible vegetable oil were 470,000 tons. From January to May, cumulative imports were 2.05 million tons, down 33.3% year on year.
Soybean imports increase, crushing profits may shrink Analysts said on Monday that China's soybean imports will increase further in the coming months, mainly because South American soybeans ordered earlier are arriving, which may put pressure on crushing profits. Data released by the General Administration of Customs on the 8th show that soybean imports in May this year reached 6.13 million tons, up 15.4% from April and up 2.7% from the same period last year. It is estimated that soybean imports in June may reach as high as 8.5 million tons, which would be close to a record high. The reason for the import increase is that South American soybean production hit a record this year, and soybeans previously contracted for import are arriving one after another.
Because a large volume of imported soybeans arrived in May, and the market expects soybean imports in June to hit a record high, this has already caused domestic soybean meal prices to fall to a new low in 8 years. Lower hog inventories have also hurt soybean meal demand. Analysts pointed out that soybean meal demand this year is worse than last year, and weak soybean meal prices have already caused crushing in Guangdong and Guangxi to incur losses. In Guangdong, spot soybean meal prices fell to 2,460 yuan per ton, and some small traders who had previously signed contracts to buy soybean meal at 2,700 to 3,000 yuan per ton defaulted.