China’s Jan-Feb soybean imports from US rise YoY, Brazil slips

Imports of US soybeans into China rose 15.4% in the first two months of this year, showed data on Monday, March 20, as harvest delays in leading supplier Brazil prompted buyers to seek more US oilseeds.

The world’s largest buyer of soybeans, China imported 11.59 million tonnes of the commodity from the United States, compared to 10.04 million tonnes in the previous year, data from the General Administration of Customs showed.

Imports from Brazil fell 36% to 2.24 million tonnes.

According to some analysts, rains delayed the harvest in Brazil’s main growing regions and slowed the transport of soybeans to ports.

Total imports in the period reached a record 16.2m tonnes swt, data showed earlier this month, as buyers stocked up in anticipation of this year’s sound demand.

Regarding corn imports, the US was also China’s main supplier, with 2.35 million tonnes arriving in the two months of the year, a 22% increase over the same period last year.

Imports from Ukraine reached 1.18mt, down 56% year-on-year.

Brazil supplied 1.48 million tonnes of corn to China, the first wave since the country authorized a new batch of exporters last year.

Source: Money Times

To read the full original reporting, go to: https://www.moneytimes.com.br/china-aumenta-importacao-de-soja-dos-eua-com-atraso-na-colheita-do-brasil/

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