China has ample soybean supplies, huge price fluctuations unlikely

China has ample supplies of soybeans and significant price fluctuations are unlikely, the agriculture ministry said on Friday.

China has ample supplies of soybeans and significant price fluctuations are unlikely, the agriculture ministry said on Friday.

Over January to August, China's soybean imports from Brazil accounted for nearly 70 per cent of its overall purchases, an official from the Ministry of Agriculture and Rural Affairs also said at a press briefing.

Meanwhile, domestic soybean planting acreage has increased and China is set to have a bumper harvest, the official said. 

(With inputs from agencies.)