China imported a record volume of oilseeds in 2022/23

Despite a slight slowdown in imports of oilseeds by China in September of this year. - up to 7.8 million tons of oilseeds, according to Oil Word (Germany) experts, according to the results of MY 2022/23 (October-September), the volume of imports reached a record 109.9 million tons. As specified, the sharp increase in imports of soybeans - up to 100.87 million tons in 2022/23 MY against 91.6 million tons in the previous MY, as well as canola and rapeseed - up to 5.33 (1.66) million tons, respectively, was partially used to increase domestic reserves, which may lead to a reduction in the rate of import of oilseeds at the start of MY 2023/24. In addition, to meet domestic demand from the livestock industry, China also increased imports of oilseed meal - by 1.3 million tons (or + 18%) in 2022/23 MY compared to the previous season, to 8.4 million tons. At the same time, higher imports of oilseed meal occurred despite a significant increase in domestic processing. In particular, soybean ...