Breaking News- RTRS - China to buy yet more soyoil, palm oil-Oil World

HAMBURG, Sept 27 (Reuters) - China will again sharply raise imports of soyoil, palm oil and soybeans in 2011/12 as insufficient domestic oilseed production continues to be outpaced by rapid demand growth.
“China’s import dependence in the oilseed sector is reaching alarming proportions,” Oil World said.
China’s October 2011/September 2012 soyoil imports will rise to 1.56 million tonnes from 1.51 million tonnes in 2010/11 and palm oil imports will rise to 6.67 million tonnes from 6.06 million tonnes, Oil World forecasts.
Demand continues to be driven by China’s economic growth, rising population and increasing meat consumption as incomes rise, it said.