China scales back soybean imports from Brazil
China imports of Brazilian soybeans fell by 18% in September compared to the same month a year ago, according to data from the General Administration of Customs.
It showed China buying 5.9 million tonnes of soybeans from Brazil in September, down from 7.2 million a year ago. Poor crush margins and falling hog prices in China contributed to the decline.
The data showed an even more dramatic decline in soybean imports from the United States as grain terminals in the Port of New Orleans were forced to close after Hurricane Ida struck the United States in early September.
China imported 169,439 tonnes of soybeans from the United States in September, down from 1.17 million tonnes in the same month in 2020.
By far the world’s largest soybean importer, China is expected to import more than 100 million tonnes of soybeans in the 2021-22 marketing year, according to the US Department of Agriculture’s Foreign Agricultural Service, marking the first time it has crossed that threshold.
Read also
Australia increased wheat exports by 20% in October
Palm oil prices fell by 5.4% despite lower forecasts for production, exports and s...
Ukrainian ports handled over 90 mln tons of cargo since the beginning of the year
Join with the EARLY RATE – 22 International Conference BLACK SEA GRAIN.EUROP...
Indonesia wheat, rice imports forecast to fall
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon