China's Oilseed Imports Trend Upward

WASHINGTON - Jun 4/12 - SNS -- Chinese farmers are not as keen about growing oilseeds as crops such as corn, with the result imports needs for soybean and canola will continue to increase through the coming marketing year.

Reviewing the situation facing oilseeds in China, the U.S. agricultural attache for the country said farmers can make more money growing corn. As a result, total oilseed production in 2012-12 is expected to drop 2.7% to 55 million metric tons (MT) mainly because of a 2% drop in seeded area to 25.32 million hectares.

"Expectations are for cottonseed to fall by one million MT, soybeans to contract by 500,000 MT, and rapeseed acreage, though down, to produce higher yields in response to favorable weather, thereby maintaining its production levels," the U.S. agricultural attache said. For the coming season, peanut production is expected to remain stable at 16 million MT.

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