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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

14/08/2003

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

Reuters

CATEGORY

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