China’s soybean imports from Brazil fall further in April
China’s soybean imports from Brazil fell 16% in April compared with the same month a year ago, data showed on Saturday, keeping supplies from the South American nation well behind last year’s level after delays to its harvest.
The world’s top buyer of soybeans imported 5.3 million tonnes of the oilseed from Brazil, its largest supplier, versus 6.3 million tonnes a year earlier, General Administration of Customs data showed.
Chinese buyers took advantage of this year’s record Brazilian soy crop and cheap prices to step up purchases earlier this year.
But a delayed Brazilian harvest and loading of beans slowed shipments, while increased inspections by China on soybean arrivals last month further reduced imports, traders said.
So far this year, imports from Brazil remain 28% behind that of a year ago, with 9.21 million tonnes in the first four months, compared with 12.7 million tonnes in the same period of 2022.
Imports from the United States continue to edge higher, rising by 11% in April from the year before to 1.82 million tonnes.
U.S. shipments for this year so far stand at 18.24 million tonnes, compared with 15 million tonnes last year.
For corn, arrivals from the United States fell to 53,099 tonnes, down from 1.51 million tonnes a year ago. Total Chinese corn imports in April contracted 55% on a year ago to 1 million tonnes, with Ukraine the dominant supplier.
Source: Reuters (Reporting by Dominique Patton and Ningwei Qin; Editing by Sam Holmes & Simon Cameron-Moore)