Brazil: China's soybean imports grow 18% in April and reach a record for the month

Published May 9, 2024

Tridge summary

China's soybean imports in April increased by 18% compared to the previous year, reaching a record high of 8.57 million tonnes. This surge was primarily due to higher demand for soybean meal for animal feed, especially with improved profit margins in pig farms. The increase in imports was also driven by the preference for lower-priced Brazilian supplies. However, recent flooding in Brazil may impact the supply of soybeans, potentially affecting China's supply outlook. Meanwhile, U.S. soybean exports to China are expected to face more competition with increased supply from Argentina, the world's third-largest soybean producer. Additionally, China's imports of vegetable oils in April decreased by 17.7% compared to the previous month.

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

Original content

By Mei Mei Chu BEIJING (Reuters) - China's soybean imports in April rose 18% from a year earlier, data showed on Thursday, as buyers snapped up cheap and plentiful beans from Brazil as the South American producer wrapped up its soybean season. harvest. Total arrivals for the month were 8.57 million tonnes, according to the General Administration of Customs, the highest ever recorded for April. Soybean arrivals to the world's top buyer during the January-April period were 27.15 million tonnes, a drop of 2.9% compared to the same period last year, according to the data. The increase was driven by higher demand for soybean meal for animal feed as pig farm profit margins improved, said an analyst at a Shanghai-based Chinese agricultural trading company, who declined to be named. April imports also rose as Chinese buyers opted for lower-priced Brazilian supplies, said Liu Jinlu, an agricultural researcher at Guoyuan Futures. Liu said Brazilian soybean prices for delivery to China from ...

Source: NoticiasAgricolas