BEIJING, CHINA — China’s soybean imports fall as rain caused transportation issues and demand wanes with the spread of the coronavirus (COVID-19), Reuters reported.
China’s soybean imports decreased 13% in March compared to the previous year and is the lowest in more than five years, Reuters said, citing customs data.
Rain in Brazil delayed the country’s soybean harvest and exports to China, creating a smaller-than-expected delivery.
Chinese crushing plants and the livestock sector have experienced production issues since the outbreak of COIVD-19 in Wuhan, China, in late 2019. Due to soybean supply shortages, some crushers had to halt operations, Reuters said.
On April 8, COFCO was granted 500,000 tonnes of soybeans from China’s reserves for commercial crushing, and it was the second batch of reserve soybeans granted to the company this year.
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