700000-800000 tons of soybeans will arrive in China in March
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Last Update: 2002-03-26
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Source: Internet
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Author: User
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Lead: Reuters news on March 22: in the next few weeks, at most one ship of soybeans is expected to arrive in China Even if the Chinese government can issue a temporary import license soon, it will not be until the end of may or June for soybean cargo ships to enter Chinese ports However, there will be no shortage of soybean supply in China before the middle or late May, because a large number of imported soybeans will arrive in China before the genetically modified regulations come into effect on March 20 Traders are sceptical of the customs figures of 473000 tonnes of February soybeans, compared with market estimates of more than a million tonnes in February Traders attribute the difference to a statistical lag Traders estimate that 2.4 million tons of soybeans will be shipped from the U.S offshore to China in the first two months of this year, and another 700000 to 800000 tons will arrive at Chinese ports in March
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