China's soybean crushing sector faces overcapacity, COFCO official says
China's soybean crushing sector faces significant overcapacity with daily crushing capacity of imports set to exceed 520,000 metric tons by the end of the year, an industry official said on Wednesday.
Lv Xiuping, a member of a committee of the ruling Communist Party Committee at state-run COFCO Oils and Oilseeds, who also holds the post of chief accountant, made the remarks at an agricultural conference in the northeastern city of Dalian.
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