MPOB Palmnews
 
Date
 14/03/2003
News Provider
 Mahamad Rodzi Abdul Ghani
News Source
 SinoCast China Busin
Headline
 Chinese Ministry of Agriculture may block import l

BEIJING, March 12, SinoCast -- The Chinese soybean importers estimate thatthe China Ministry of Agriculture will issue the first block of importlicenses to Brazilian soybeans.

The delay in the issue of import licenses has led to the expectations ofChinese importers that China will not allow the import of South Americansoybeans. According to the expectations, they have ordered some extra USsoybeans at higher prices. The soybeans will be shipped in March. March isalso the time for South American soybeans to be marketed. Therefore, theimporters are still seeking to order more South American soybeans thatwill be shipped in April or May. However, they have not signed any newcontracts.

According to the estimates of the importers, China has order 8 milliontons or even more South American soybeans. Besides, China has orderedabout 7 million tons of US soybeans since October 1, 2002.

The importers are worried that the large import of soybeans and thepossible decrease in the consumption of poultry meat will lead to theexcessive supply of soybeans. There has been a breakout of avian influenzain the southern parts of China. The residents have reduced the consumptionof poultry meat.