China August soy imports from Brazil up 45% on year ago
China’s soybean imports from Brazil rose 45% in August from a year earlier, data showed on Wednesday, as a huge crop produced by the South American nation this year continued to flow to the world’s top buyer.
China imported 9.09 million metric tons of the oilseed from Brazil last month, according to the General Administration of Customs showed, almost all of the 9.36 million tons of total soybeans that arrived in China during August.
Brazil’s market share to China remained the same even though Chinese buyers ramped up purchases from the world’s top supplier due to attractive prices of this year’s record Brazilian soy crop.
Total shipments from the South American nation were 47.99 million tons so far this year, up 17.3% compared with the same period last year.
August soybean arrivals from the United States, China’s number 2 supplier, declined 58% compared to the same month a year ago to 120,073 tons.
Total arrivals from the U.S. in the first eight months came to 19.95 million metric tons, up 14% on a year ago, the data also showed.
Source: Reuters (Reporting by Mei Mei Chu, Dominique Patton; editing by Christina Fincher)