RI soybean imports up

RI soybean imports up

WASHINGTON (Reuter): A U.S. agricultural attache pegged Indonesia 1996/97 soybean imports at 800,000 tonnes, up from a previous estimate of 770,000 tonnes, due to reduced domestic soybean output and higher consumption.

Soybean imports from the United States in 1996/97 are forecast to rise approximately 12 percent, to about 780,000 tonnes, due mainly to lack of supplies from China and a preference for U.S. soybeans compared to soybeans from Brazil or Argentina, the attache said in a report dated April 24 and released here Tuesday.

The attache said the continued availability of the GSM-102 credit guarantee program was instrumental in assuring continued preferences for and purchases of U.S. soybeans.

The attache also revised upwards an estimate for Indonesia 1996/97 soybean meal imports to 1.05 million tonnes from 1.00 million tonnes, citing the expected increase in the domestic consumption by local feedmills and lower prices for soybean meal compared with other protein meal sources.