March 12, 2018 / 5:45 AM / 2 years ago

China 2017/18 soybean imports to rise above 100 mln T, pork to fall -analyst

SINGAPORE, March 12 (Reuters) -

* China’s 2017/18 soybean imports are expected to climb above 100 million tonnes, a senior industry analyst said on Monday, as strong demand for animal feed boosts consumption in the world biggest hog market.

* China bought 93.5 million tonnes of soybeans in 2016/17, according to data from the U.S. Department of Agriculture.

* China’s pork imports in 2018 are expected to decline to around 2.2 to 2.3 million tonnes from 2.5 million tonnes last year, J.Y. Chow, food and agriculture expert at Mizuho Bank, said on the sidelines of an industry event in Singapore.

* “Local pork production has picked up pretty fast,” he said. “But China will continue to buy certain volumes as demand for some cuts, such as ribs, is very strong.”

* Chinese pig prices hit their lowest in nearly four years this week, plunging farmers in the world’s top pork market into the red and underscoring concerns that a rapid expansion of large pig farms in China has outpaced slowing demand growth. (Reporting by Naveen Thukral Editing by Joseph Radford)

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