China's palm oil imports to avoid 17-year low, with soy imports to exceed forecasts too

The USDA Beijing bureau expects China to import 94.0m tonnes of soybeans and 5.0m tonnes of palm oil in 2021-22, both above official USDA figures. China's palm oil imports had slumped 43% in the first eight months of the season.

For 2022-23, palm oil imports are projected at 6.90m tonnes, below USDA's 7.20m, as a larger domestic soybean harvest is expected.