China Seen Boosting Soybean Imports as Animal Feed Demand Rises
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Soybean buyers in China, the world’s biggest consumer, are increasing imports as demand for animal feed rises and falling prices boost processing margins, according to a Bloomberg News survey.
China bought about 2 million metric tons of the oilseed last week after prices declined earlier this month to the lowest in almost four years, according to a Bloomberg News survey of five buyers and analysts based in the country. Imports in the year beginning Oct. 1 may rise 7 percent to 73 million tons, the survey shows.