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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

22/09/2004

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

China Food.com

CATEGORY

HEADLINE

Foreign Crushers’ Soybean Imports Account for 80%
18/09/04 CHINA - The newly signed soybean import contracts by the twolarge Chinese oil groups have accounted 80% of the total, mainly by FOBterm, and the large Chinese crushers used to organize delegation to USAfor soybean procurements. The domestic soybean crushers have contracted 4or 5 US soybeans by CNF term, with the buyers being two large oil groups,and the signing of the contracts has been shelved or avoided disputes, sothe signing has been very complicated. Most Chinese large or middle-sizedcrushers are facing no foreign suppliers, so they have turned to domesticsoybeans or South American soybeans; or have suffered losses in the firsthalf-year, making their funds short. Two large Chinese oil groups areexperiencing the best opportunity in the past years for development andunder the current situation that the competitive edge of other crushershave reduced, they will grow rapidly, including merger, rebuild and extend