China’s Sept soybean imports from Brazil rise 23% from a year ago

China’s soybean imports from Brazil rose in September by 23% from a year earlier, data showed on Friday (20), after a huge crop produced by the South American nation this year continued to reach the world’s top buyer.

China imported 6.88 million metric tons of the oilseed from Brazil last month, according to the General Administration of Customs, the highest for September in three years.

Brazil ships most of their soybean crop from March through June when it harvests its crop, with exports dwindling after then, but this year summer month shipments have been higher than before.

The chart below, developed with Datamar data, shows Brazil’s soybean exports to China between 2019 and Aug 2023. The data is from DataLiner.

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

Source: DataLiner (click here to request a demo)

September arrivals from the United States, China’s second-largest supplier, shrank to 133,692 tons from 1.15 million tons a year ago.

Total imports by China last month were 7.15 million tons.

So far this year, China’s soybean imports from Brazil stood at 54.87 million tons of Brazilian soybeans, up 18% compared with the same period last year.

Total arrivals from the U.S. in the first nine months of 2023 are up 8% at 20.08 million metric tons, the data also showed.

Brazil also supplied 1.25 million tons of corn to China last month, 76% of the total arrivals.

(Reporting by Dominique Patton; Editing by Christian Schmollinger)

Source: Reuters

Sharing is caring!