China may sell soya reserves, refill with Brazilian imports

China, the world's top soya importer, may sell between 1.3 and 1.5 million tonnes of soyabeans from state reserves to four crushers and refill its stockpiles with Brazilian soyabeans, according to an official think tank. China holds an unspecified volume of imported soya 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 (CNGOIC) said.
"The market is expecting that (China) may import Brazilian soyabean for August shipment to refill the stocks," said the centre in a report posted on its website (www.grainoil.com.cn). Sales from state reserves would help boost supplies in China at a time of low imports from the United States and Brazil, it said.