May 27, 2014
China's soy imports from Brazil soar in first four months of 2014
In the first four months of 2014, China's imports of soy from Brazil soared 83% to 4.99 million tonnes, according to data from China's Customs Service.
In April alone, Brazil shipped 3.95 million tonnes of soy to China, a surge of 64% on-year. China's April soy imports totalled 6.5 million tonnes, about 60% of which is accounted for by the Brazilian crop.
The surge in Brazilian imports was mainly due to the increased demand from China. The beginning of dry season in Brazil also drove up the exports of the crop, as shipments are hard to be carried out in rainy days.
In the first four months of this year, China's total soy imports reached 21.85 million tonnes. US remains the largest soy exporter to China, with 16.3 million tonnes delivered to the country.