US soybean shipments to China in September were 0 tons, while shipments from Argentina increased by 91%

According to data from China’s General Administration of Customs released on Monday, imports from the United States fell to zero last month, down from 1.7 million tonnes a year earlier, Reuters reports.

Analysts point out that shipments have declined due to high tariffs imposed by the two countries. China remains the world’s largest soybean buyer, purchasing 12.87 million tonnes in September, the second-highest volume on record.

Ships from Brazil to China increased 29.9% year-on-year last month to 10.96 million tonnes, accounting for 85.2% of the country’s total oilseed imports, while shipments from Argentina increased 91.5% to 1.17 million tonnes, accounting for 9% of the total.

From January to September, China imported 63.7 million tonnes from Brazil, up 2.4% year-on-year, and 2.9 million tonnes from Argentina, up 31.8% year-on-year.

Analysts also note that, despite Chinese buyers avoiding this year’s US crop, US bean imports have reached 16.8 million tonnes since the beginning of the year.

It was previously reported that a shift in key suppliers had a positive impact on the monetary value of purchased goods. Soybean imports to China have increased by 5.3% in physical terms since the beginning of the year, but decreased in monetary terms.

Tags: China, soybean, USA, Argentina