Weak crushing margins reduce China’s soybean imports from Brazil in June

On Tuesday, China’s customs data showed that China’s soybean imports from Brazil fell in June compared to the same period last year, due to weak crushing margins.

China, the world’s largest soybean buyer, imported 10.48 million tons of the oilseed from Brazil – the largest global exporter – last month. This was a slight drop from the record 10.51 million tons registered in the same month in 2020, according to customs data.

But the figures still represent an increase of 14% compared to the 9.23 million tons of May this year. China’s general customs administration shows that demand continues to be sustained by the recovery of the pork herd in China.

Source: Money Times

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