China increases imports of US soybeans with delay in Brazil's harvest



Image: Pixabay


China's US soybean imports rose by 15.4% in the first two months of this year, data showed on Monday, as harvest delays in top supplier Brazil prompted buyers to seek more beans from the US.

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

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Imports from Brazil fell by 36%, to 2.24 million tons.

Rains delayed the harvest in Brazil's main growing regions and also slowed the movement of soybeans to ports, according to some analysts.

Total imports in the period hit a record 16.2 million tonnes, data showed earlier this month, as buyers stocked up in anticipation of this year's healthy demand.

In the case of corn imports, the USA was also China's main supplier, with 2.35 million tons arriving in the two months, an increase of 22% compared to the same period last year.

Arrivals from Ukraine reached 1.18 million tonnes, down 56% from the previous year.

Brazil supplied 1.48 million tonnes, the first imports since China authorized a new batch of exporters last year.

Source: Dominique Patton | Notícias Agrícolas

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