Two Months Before The Sudden Rise In Food Imports, Shenzhen Port Soybean Imports Grew Nearly Four

Cast consultants learned from Shenzhen Customs, from January to February 2009, Shenzhen Port to import food (including cereal and cereal flour, soybean) 43 million tonnes, a substantial increase of 1.9 times over the same period last year, worth 160 million U.S. dollars, up 86.9 %, the average price of 371.6 U.S. dollars of imports / MT, down 35.3%.

According to customs statistics, the first two months Shenzhen Port of food imports shows the following characteristics:

1, February imports since last year, a new record high average price of imports remained low. In February of this year, Shenzhen Port reached 272 thousand tons of grain imports, soared 2.3 times to the highest point since last year; but the average price of imports in August last year after the peak all the way down, and the gradual decline since last November to deepen this year’s 2 month only 338.6 U.S. dollars / ton, down 41.6% to fast.

2, leading general trade imports. January-February, the Shenzhen port by way of general trade import 428,000 tons of grain, a substantial increase of 1.9 times, accounting for the same period in the Shenzhen port’s total food imports 99.5%; processing trade imports of 1926 tons, decreased by 17%.

Three imports from Europe and America suddenly improve, decline in imports from Argentina and the Association of Southeast Asian Nations. January-February, Shenzhen Port from the United States imported only 11.3 tons of grain from last year soared to 29.9 million tons, the proportion increased to 69.6%; from non-EU imports increased from last year to 5.1 million tons; the same period, imports from Argentina, 5.2 million tons, down 16.8%, imports from ASEAN 19,000 tons, sharply down 77.6%.

4, soybean imports increased nearly four-fold drop in import prices were the main species. January-February, Shenzhen Port soybean imports 314,000 tons, an increase of 3.9 times, accounting for Shenzhen Port 73.2% of total food imports, imports, average price of 398.7 U.S. dollars / ton, down 32.3%; import 115,000 tons of grain and grain flour, growth of 34.8%, average import price of 296.7 U.S. dollars / ton, down by 47.4%.

Cast consultants that the first two months of food imports increase in volume and the rate of reduction of the main reasons: First, around the Spring Festival to increase domestic demand led imports grew rapidly, Second International Food prices Continues to decline while domestic food prices firm. By the international financial crisis, global food prices since last year continued to decline, while domestic prices of government efforts to improve the support of the acquisition is relatively strong.

Cast consultant pointed out that excessive soybean imports, affecting national food purchasing and storage effect, threatening the domestic industry. As international markets continued to decline in grain prices, some low-cost advantage of the influx of species such as soybean domestic market, resulting in a large backlog of domestic soybean farmers and middlemen in the hands of the producing country can not digest all storage acquisition yield to the domestic industry had a tremendous impact and erosion to the interests of domestic food security and farmers. According to statistics, total imports of foreign soybean production has reached more than 2 times the country, domestic soybean crushing business situation with the domestic difficulties, has seriously threatened the domestic soybean industry.

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