Palm | Kelapa Sawit

BEIJING, Oct 28 (Reuters) - China has begun purchasing domestic soybeans for state reserves in an effort to boost local prices and farmers' incomes, but traders said that has led crushers to seek out cheaper imports.
Chinese buyers have booked 1 to 1.5 million tonnes of U.S soybeans over the past week, almost four times the week before last, traders estimated on Tuesday.
"The import growth was because of expensive domestic soybeans," said one industry analyst.