China’s soybean imports in early 2024 are the lowest in five years

According to Chinese customs data, the country imported 13.04 million tons of soybeans in the first two months of this year, which is 8.8% behind last year’s result and the lowest figure for this period in the last five years.

Meanwhile, Chinese customs also reported revised soybean imports for January-February 2023 at 14.30 million tons, up from the previous figure of 16.17 million tons.

It is also noted that demand for soybeans for feed production in China may decline this year due to new regulations on stricter control of the country’s pig herd after its significant increase in recent years led to a surplus of pigs and higher production costs.

Tags: imports, China, soybean