BEIJING (Reuters) — China, the world’s top soy importer, may sell between 1.3 and 1.5 million tonnes of soybeans from state reserves to four crushers and refill its stockpiles with Brazilian soybeans, according to an official think-tank.
China holds an unspecified volume of imported soy reserves and releases between 1.5 and 1.8 million tonnes every year before refilling with new crops, the China National Grain and Oils Information Centre said.
“The market is expecting that (China) may import Brazilian soybean for August shipment to refill the stocks,” said the centre in a report posted on its website.
Sales from state reserves would help boost supplies in China at a time of low imports from the United States and Brazil, it said.
Soy deliveries to China in February are likely to fall 20 percent from a year before, with shipments from Brazil at 2.3 million tonnes and from the United States 2.2 million.
