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China’s imports of U.S. soybeans rise in March from a month earlier

China’s imports of soybeans from the United States, the second-largest supplier to the country in 2018, rose in March from the previous month as more cargoes booked during a truce in the trade dispute between the two countries arrived.

China, the world’s biggest soybean buyer, imported 1.51 million tonnes of soybeans from the United States in March, data from the General Administration of Customs released on Thursday showed, up from February’s shipments of 907,7545 tonnes.

But the arrivals were still only half of last year’s volumes, with Beijing’s hefty tariffs on U.S. cargoes still in place and curbing purchases.

Total soybean imports in March reached 4.92 million tonnes, according to customs data released earlier in the month.

Imports from Canada jumped to 205,776 tonnes from 70,997 tonnes a year ago.

China, the world’s biggest oilseed importer, typically buys soybeans from the U.S. in the fourth quarter and the first couple of months of the year, when the U.S. harvest dominates the market.

But Chinese buyers have steered clear of U.S. produce because of the trade dispute and scooped up Brazilian beans instead.

Chinese imports of U.S. oilseeds fell sharply last year and ground to a halt in November, while shipments from Brazil jumped from the previous year.

China resumed some U.S. soybean purchases after the two sides agreed on Dec. 1 to a 90-day truce in their dispute.
Source: Reuters

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