Slow Imports Force Major Chinese Soybean Crusher to Halt Operations
Shandong Bohi Industry Co Ltd, a top Chinese soybean crusher that crushes 8 million tons of beans per year, has halted operations at two plants due to a delay in soybean imports resulting from an intensification of safety checks at the country’s ports.
Worries were growing about tightening supplies, and the plant shut-down has only compounded these concerns, while also exacerbating a shortage of soymeal in the south, after another major crusher suspended operations in August due to a lack of soybeans.
China has been taking longer than expected to issue safety certificates to cargoes of genetically modified soybeans - and if the delays continue, many worry that it could have a significant negative effect upon soymeal supplies across the country as a whole.
Weather-related delays have also added to the difficulties, resulting in China importing 5.86 million tons of soybeans in the month of October - far below expectations - with the delayed shipments not expected to arrive until November or December.