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China lowers forecast for 2018/19 soybean imports amid trade war

Reuters  |  BEIJING 

(Reuters) - will likely import 93.85 million tonnes of soybeans in the 2018/19 crop year, its ministry said on Thursday, lowering its forecast from 95.65 million tonnes as trade tensions with the push up costs.

is expected to consume 109.23 million tonnes of soybeans in the 2018/19 crop year, down from the previous month's forecast of 111.19 million tonnes, the Ministry of and Rural Affairs said in its monthly Chinese Agricultural Supply and Demand Estimates (CASDE).

China's 2018/19 crushing volume was seen lower on higher consumption of other proteins, the ministry said in a statement released with the CASDE.

China's 2017/18 cotton imports were seen up 200,000 tonnes from the previous month's forecast.

(Reporting by and Dominique Patton; Editing by Joseph Radford)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 12 2018. 10:05 IST
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