China’s soybean processing continues to grow
Chinese oil mills continue to increase soybean processing volumes. According to experts of the national center CNGOIC (China National Grain and Oil Information Centre), in the week that ended on Friday (May 31), the country processed about 2.16 million tons of oilseeds, which is 150 thousand tons higher than the level of the previous week.
As experts note, this happened against the background of increased utilization of enterprises of oil and fat industry of China.
Recall that China is the world’s largest importer of soybeans. According to the U.S. Department of Agriculture (USDA), in the season-2023/24 the country will receive 105 million tons of beans, and in 2024/25 MY, as expected, already 109 million tons.
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