US soy exports to China increase six-fold in first two months

Exports of soy by the United States to China in the first two months of 2020 increased six-fold year-on-year, according to customs data released on Wednesday, March 25. The cargo was purchased during a commercial truce between countries. China imported 6.1 million tons of soy from the U.S. in the first two months, compared to about 1 million tons in the same period in 2019, when shipments were still limited because of the trade war between the two countries.

Shipments from Brazil in the first two months of the year, on the other hand, reached 5.14 million tons, a 26% drop compared to year-ago levels, according to customs data. Total soy imports by China in the first two months of 2020 increased 14.2% year on year, to 13.51 million tons.

Source: Reuters

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