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China cuts soybean import forecast in face of trade war

Reuters  |  BEIJING 

BEIJING (Reuters) - China on Thursday cut its forecast for soybean imports for the 2018/19 crop year, warning that higher prices due to trade conflict with the United States would curb demand as farmers switch to alternative ingredients for their animal feed.Imports of soybeans in the crop year that starts on Oct. 1 will be 93.85 million tonnes, down 1.8 million tonnes, or 2 percent, from last month's estimate, the Ministry of Agriculture and Rural Affairs said in its monthly crop report.That compares with its estimate of 95.97 million for the 2017/18 crop year and, according to U.S. ...

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First Published: Thu, July 12 2018. 11:56 IST