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Chinese soybean imports from Brazil fell by 15% in October compared to the same month last year, as high prices and lack of crusher profits dampened appetite for purchases from the South American country.
Imports from the United States were stable compared to the previous year, data released on Sunday showed.
China, the world's biggest buyer of soybeans, imported 2.8 million tons of the oilseed from Brazil in October, compared to 3.3 million tons the previous year, according to the General Administration of Customs.
Overall soybean imports fell 19% in October from a year earlier to 4.14 million tonnes, the lowest level for any month since 2014.
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The extreme drought that reduced Brazil's harvest drove up oilseed prices earlier this year and eroded profits at China's oilseed crushers, who also faced weak demand from farmers in the first half of the year.
Arrivals from the United States, China's second-largest supplier, fell to 772,938 tonnes from 775,331 tonnes a year earlier.
In the first 10 months of the year, China brought 49.31 million tons of Brazilian grains, compared to 52.75 million tons in the same period of 2021.
Imports from the United States from January to October reached 20.1 million tons, compared to 22.57 million tons in the previous year.
Source: Notícias Agrícolas
