Chinese firms plan more soybean imports to offset plunge in US supply

BEIJING - Chinese companies are confident of securing overseas supplies of soybeans and soybean meal substitutes to counter the fall in imports of US soybeans.

The State newsagency, Xinhua reports that a survey of related firms points to widespread readiness and ‘pro-activeness’ in the industry as Chinese firms turn to more competitive suppliers from South America and other parts of the world.

Additionally, China’s State-owned grains trader, COFCO, has made inquiries on canola, cottonseed and sunflower seed meals with countries including India, Canada, and Ukraine to fill in the gap left by reduced US imports.  www.webeshandwick.cn (ATI).