April 24, 2023

China's soybean imports from the US up in March, corn imports decline

China's soybean imports from the US increased 43% in March, according to data released on Friday, as harvest delays in top supplier Brazil prompted buyers to seek more US soybeans, Nasdaq reported.

Data from China's General Administration of Customs showed that the world's top buyer of soybeans imported 4.83 million tonnes from the US, up from 3.37 million tonnes the previous year.

China's soybean imports from Brazil fell 42% year-on-year to 1.67 million tonnes. Rain delayed harvest earlier this year in key growing regions of Brazil.

China's total soybean imports in March 2023 were 6.85 million tonnes, up 8% from the previous year, according to data released this month.

Arrivals of corn from the US fell 52% year-on-year to 494,903 tonnes, while Brazil's volumes reached 68,605 tonnes.

At the end of 2022, Chinese customs authorities updated a list of approved Brazilian maize exporters, resuming grain sales to the world's largest buyer.

Arrivals from Ukraine totaled 909,345 tonnes, a 33% decrease from March 2022.

-      Nasdaq