China's soybean imports to hit new high

China, the world's largest soybean importer, is expected to see imports increase further, an industry forecast showed.

Imports were expected to jump to 66 million metric tons this year, compared with 58.4 million tons in 2012, according to a forecast released by the China National Grain and Oils Information Center.

In a previous forecast, the center estimated China's soybean production would drop by 3.9 percent this year, from a year ago, to 12.3 million tons. Meanwhile soybean growing areas were expected to decline by 3.7 percent from 2012, the center said.

Reduced yields would place upward pressure on imports, the center said.

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