China increases US soybean imports as Brazil harvest delay

Published Mar 20, 2023

Tridge summary

China's import of U.S. soybeans experienced a significant increase of 15.4% in the first two months of 2023, reaching 11.59 million tons, as reported by the General Administration of Customs. This surge is primarily due to harvest delays in Brazil, a usual top supplier, caused by rainy weather and port congestion. Consequently, the total soybean imports for the period achieved a record high of 16.2 million tons. Additionally, China saw a 22% rise in corn imports from the U.S., totaling 2.35 million tons, while imports from Ukraine experienced a notable decrease of 56% to 1.18 million tons.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

By Dominique Patton BEIJING (Reuters) - China's U.S. soybean imports rose 15.4% in the first two months of this year, data showed on Monday, as harvest delays in top supplier Brazil prompted buyers to seek out more grains. from the USA. The world's largest buyer of soybeans, China imported 11.59 million tons of the oilseed from the United States, compared to 10.04 million tons in the previous year, data from the General Administration of Customs showed. Already imports from Brazil fell 36%, to 2.24 million tons. Rains delayed the harvest in Brazil's main growing regions and also slowed the movement of soybeans to ports, according to some analysts. Total imports in the period hit a record 16.2m tonnes swt, data showed earlier this month, as buyers stocked up in anticipation of this year's healthy demand. In the case of corn imports, the US was also China's main ...

Source: NoticiasAgricolas