China increased soybean imports from the US and decreased from Brazil
China imported 84% more soybeans from the United States in January-February this year, amounting to 9.13 million tonnes, compared with 4.96 million tonnes in the same period in 2024, according to the General Administration of Customs, Reuters reports.
Experts at agricultural consulting company JCI attribute the increase in U.S. soybean imports to concerns over the introduction of tariffs by the United States, which led to panic buying. Also, a delay in planting in Brazil raised expectations for a late harvest and led to the purchase of more soybeans from the United States than expected.
Soybean imports from Brazil in January-February fell by 48.4% year-on-year to 3.59 million tonnes. However, competitive prices and a trade standoff with the United States are expected to increase purchases from Brazil in the coming months.
China’s total soybean imports in the first two months of 2025 increased by 4.4% to 13.61 million tonnes.
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