HAMBURG, Nov 20 (Reuters) - The
United States is likely to win more soyoil sales to China in the final weeks of
2012 as supplies from South America sell out after poor soybean crops earlier
this year, Hamburg-based oilseeds analysts Oil World said on Tuesday.
In October, Brazil exported a hefty
91,000 tonnes of soyoil to China, Argentina exported 110,000 tonnes and the
United States lagged behind with an estimated 76,000 tonnes, Oil World said.
“But a slowdown (in Brazilian and
Argentine sales) is likely to occur in November and December due to declining
production and export supplies of the two South American countries,” Oil World
said.
“Therefore China has shifted to U.S.
origin, resulting in a sharp increase in U.S. soyoil exports to China in
Oct./Dec. 2012.”
China has been increasing its
overall soyoil imports from all countries since mid-2012 as domestic demand
continues to rise, it said.
China is likely to import 1.7
million tonnes of soyoil in Jan./Dec. 2012, up 0.57 million tonnes on 2011 and
a three-year high, Oil World forecast.
