BEIJING, CHINA — China increased its imports of soybeans from Brazil in August with buyers taking advantage of higher margins, Reuters reported.
Customs data showed soybean imports were up 22% for the month compared to last year. China bought 8.15 million tonnes of soybeans from Brazil in August, up from 6.68 million tonnes.
Soybean crushers are increasing their buying to meet demand for feed from the pig industry, which is working to rebuild following African swine fever.
Overall, the nation imported 9.6 million tonnes of soybeans in August. That included 166,370 tonnes from the United States, a decrease of 90% from a year ago.
Imports are expected to remain high in the coming months, Reuters said, but analysts and traders expect to see more cargoes from the United States and a slowdown in shipments from Brazil.