Chinese imports of soybeans from the US in August increased by 70%

Chinese imports of soybeans from the US in August increased by 70% compared to a year earlier, as buyers took advantage of low soybean prices, writes Reuters.

Deliveries from the United States have gained momentum since April, although the volumes remain much lower than from Brazil.

China imported 202.3 thousand tons of oilseeds from the United States last month, up from 119.1 thousand tons a year earlier, according to the General Administration of Customs.

Imports from Brazil increased by 12% to 10.24 million tons.

In August, China imported a record 12.14 million tons of soybeans amid concerns that trade tensions with the United States could increase and harm soybean trade if Republican candidate Donald Trump returns to the presidency.

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Tags: China, Brazil, soybean, USA