Chinese soybean imports up 11.6% in June

Soybean imports by China rose 11.6% in June compared to May, according to customs data published on Tuesday, indicating that the upward trend in demand continues for the largest global buyer of the commodity. China struggles to meet the demands of its domestic swineherd in terms of soybean meal consumption.

China received 10.72 million tons of soybeans in June, compared to 9.61 million tons in May. This represents the third-largest monthly volume ever registered, according to data from the general customs administration

Although imports fell 3.9% compared to the record of 11.16 million tons seen in the same month last year, the relatively stable imports demonstrate China’s continued demand for soybean meal to feed the swineherd which has been reconstructed after the decimation caused by African swine fever.

In the first six months of 2021, China’s soybean imports increased 8.7% over the same period last year, to 48.96 million tons.

Source: Valor Econômico

To read the full original article, visit the link: https://www.moneytimes.com.br/importacao-de-soja-pela-china-salta-116-em-junho-ante-maio-com-aumento-da-demanda/

Sharing is caring!