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China Expected to Increase Soybean Purchases

Analyst: Current estimates are understating 2021-22 import figures

China will be a much larger buyer of soybeans this year than the market is anticipating, an analyst told the Western Producer.

"My sense is that all the current estimates of Chinese imports for 2021-22 are understating the figures," Dorab Mistry, director of Godrej International, told delegates attending a conference organized by the U.S. Soybean Export Council.

"In reality China and China-based players are going to buy a lot more than what they are talking about today."

He said the Chinese government is making a "Herculean effort" to drive down prices of the commodity by releasing stocks and forcing speculators to liquidate their positions.

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