MPOB Palmnews
 
Date
 14/08/2003
News Provider
 Mahamad Rodzi Abdul Ghani
News Source
 Reuters
Headline
 China's soyabean import ban only temporary

HAMBURG (August 13 2003) : China's possible ban on soyabean importsreported last week is likely to be only temporary as the country is highlydependent on imports, Hamburg-based newsletter Oil World said.

"Import dependence has further increased this year and is going to risefurther in coming years as Chinese agriculture cannot keep up with therapidly-expanding domestic demand," Oil World said.

"Therefore, any restrictions on soyabean imports can only be temporary andas soon as available stocks of imported soyabeans as well as domesticsupplies are used up, imports are inevitable," Oil World said.

"In the short term we expect downward pressure on soyabean prices inChicago. But the bearish impact could be compensated by bullish weatherdevelopments."-Reuters