China's soybean imports from US up 15% in first two months

Kitco Media
By Reuters
Published:
Updated:
Reuters
BEIJING, March 20 (Reuters) - China's soybean imports from the U.S. rose 15.4% in the first two months of the year compared with 2022, data showed on Monday, as delays to the harvest in top supplier Brazil prompted buyers to seek more beans from the U.S. The world's top buyer of soybeans, China brought in 11.59 million tonnes of the oilseed from the U.S., up from 10.04 million tonnes a year ago, data from the General Administration of Customs showed. Imports from Brazil, meanwhile, fell 36% from a year ago to 2.24 million tonnes. Rain delayed the harvest in key growing regions in Brazil and has also slowed the movement of soybeans to ports, according to some analysts.


Total imports in the period reached a record 16.2 million tonnes, data showed earlier this month, as buyers stocked up in anticipation of healthy demand this year.
(Reporting by Dominique Patton; Editing by Sonia Cheema)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.