Tridge summary
China, the world's largest consumer of soybeans, has seen a decrease in soybean imports by 5.9% from January to July this year, leading to a sharp increase in the price of imported soybeans in the first five months, followed by a significant drop in June. This has resulted in a decrease in the operating rate of soybean processing enterprises and a decline in the average utilization rate of Chinese imported soybean processing plants. The fall in the price of imported soybeans has also caused a sharp drop in the price of soybean oil and other processed products, reducing the profits of domestic soybean processing companies and leading to losses.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The situation in the soybean processing market is reported by oilworld.ru with reference to СTV Finance. China is the world's largest importer and consumer of soybeans, with an import dependence of over 80%. From January to July this year, soybean imports decreased by 5.9% year-on-year (54.167 million tons), according to customs data, the price of imported soybeans rose sharply in the first five months and fell sharply in June. The current situation in enterprises In the first half of the year, the price of imported soybeans was high, and the speed of processing enterprises was low. An oil plant in Dalian, Liaoning province, which processes imported soybeans, has a production shop. The person in charge told reporters that their current operating loading rate is 64%, slightly lower than the same period last year. Their soybean raw material comes mainly from Brazil, Argentina and the US, the pace of purchases has slowed this year. In the first half of this year, the price of ...
Source: Oilworld
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