US soybean import figures for China at 17-year low
Only 47% of current U.S. soybean sales are to China, the lowest in 17 years (excluding the trade war period), Reuters experts report.
China’s imports of soybeans from the U.S. fell 5.7% year-on-year to 22.13 million tons in 2024 as fears of a resurgent Sino-U.S. trade war further escalated.
Brazil remained the top supplier of soybeans to China in 2024, increasing its import share by 6.7% to 74.65 million tons. The combined market share of Brazilian beans in the main soybean importer reached 71%, while the share of beans from the US dropped to 21%. Soybean imports from Argentina more than doubled to 4.1 million tons in 2024 from 1.95 million tons in 2023.
Overall, China imported a record 105.03 million tons of soybeans in 2024, according to the General Administration of Customs.
Further development of the grain sector in the Black Sea and Danube region will be discussed at the 23 International Conference BLACK SEA GRAIN.KYIV on April 24 in Kyiv.
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