Marubeni to boost soyabean sales to China via crusher alliance
The Japanese trading company Marubeni has signed an alliance with China’s biggest oilseed crushing company Sinograin Oil & Fats. The move will aim to boost soyabean sales to China, the world’s largest importer, by 25% in three years.
Marubeni has shipped more than 2.6 million tonnes of soyabeans to China since it began the exports in December, becoming the largest Japanese supplier. Sales are forecast to reach 4 million tonnes this year and rise to 5 million tonnes by 2012.
Marubeni and rival trading houses are seeking opportunities in China, the most populous and fastest-growing market, as demand in Japan, the second-largest soyabean importer, stagnates at around 4 million tonnes a year on a declining population.
The company last month signed a cooperation agreement with the Chinese state-owned Sinograin Oil & Fats, which crushes the oilseed for cooking oil and animal feed.
China bought 3.71 million tonnes of soyabean in April, bringing an imports record of 13.86 million tonnes for the first four months.
Marubeni has shipped more than 2.6 million tonnes of soyabeans to China since it began the exports in December, becoming the largest Japanese supplier. Sales are forecast to reach 4 million tonnes this year and rise to 5 million tonnes by 2012.
Marubeni and rival trading houses are seeking opportunities in China, the most populous and fastest-growing market, as demand in Japan, the second-largest soyabean importer, stagnates at around 4 million tonnes a year on a declining population.
The company last month signed a cooperation agreement with the Chinese state-owned Sinograin Oil & Fats, which crushes the oilseed for cooking oil and animal feed.
China bought 3.71 million tonnes of soyabean in April, bringing an imports record of 13.86 million tonnes for the first four months.
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