December 23, 2022

China's soybean imports from the US in November fall 6.9% year-on-year

Data from China's General Administration of Customs showed soybean imports from the US in November fall 6.9% compared to the year prior, after low US river levels disrupted shipping of beans to ports for export, Hellenic Shipping News reported.

Customs data also showed China imported 3.38 million tonnes of soybeans from the US last month, down from 3.63 million tonnes a year earlier.

Imports from Brazil, China's largest supplier, fell 32.3% to 2.54 million tonnes in November, as high prices and low bean crushing profits dampened appetite for purchases from the South American country.

Overall soybean imports fell 14% year-on-year in November to 7.35 million tonnes.

China imported 51.83 million tonnes of Brazilian soybeans in the first 11 months of the year, down from 56.5 million tonnes in the same period in 2021.

Imports from the US totaled 23.01 million tonnes from January to November 2022, down from 26.2 million tonnes the previous year.

-      Hellenic Shipping News