China increases soybean imports from Brazil by 45% in August

China increased its soybean imports from Brazil by 45% in August compared to the previous year, a reinforcement linked to this year’s record harvest.

Data from the General Administration of Customs released this Wednesday (20) shows that the Chinese imported 9.09 million metric tons of soybeans from Brazil last month, accounting for almost all of the 9.36 million metric tons of the product that arrived in China in August.

The total shipments on Brazilian soil amounted to 47.99 million metric tons so far this year, a 17.3% increase compared to the same period last year.

See below Brazil’s soybean exports to China between January 2019 and July 2023.

Soy exports to China | Jan 2019 – Jul 2023 | WTMT

Source: DataLiner (click here to request a demo)

However, Brazil’s market share in China remained the same, even though Chinese buyers increased their purchases from the world’s largest supplier due to the attractive prices of this year’s record Brazilian soybean crop.

Soybean arrivals from the United States in August, China’s second-largest supplier, fell by 58% compared to the same month the previous year, to 120,073 metric tons.

Source: Money Times

To read the original news text, visit: https://www.moneytimes.com.br/china-aumenta-45-das-importacoes-apos-safra-recorde-de-soja-no-brasil/

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