Friday, July 10, 2009

RTRS - UPDATE 1-China revises up July soy imports to record 4.28 mln T

BEIJING, July 9 (Reuters) - China's Commerce Ministry revised upwards its estimate for the country's soybean imports in July to 4.28 million tonnes from a previous projection of 3.56 million tonnes.
The ministry, in its latest report issued on Thursday, cut the projection for the country's soy imports in June to 4.23 million tonnes from an earlier estimate of 4.34 million tonnes.
The estimate for July was the highest even monthly import for the world's largest soy importer, followed by June imports. China's Customs will likely release actual arrival figures on Friday.
The ministry's estimates, based on reports from buyers, does not capture all shipments but gives a general picture of the direction of trade.
China's palmoil imports stayed robust with July imports seen at 440,827 tonnes, higher than earlier estimate of 243,473 tonnes.