BEIJING, CHINA — China’s Brazilian soybean imports increased in May after previously delayed cargo arrived, Reuters reported.
China purchased a total of 9.23 million tonnes of Brazilian soybean in May, up 82% compared to 5.08 million in April, according to the General Administration of Customs.
May soybean imports for China are up overall compared to 8.86 million tonnes imported in May 2020.
Despite an increase in soybean imports during the month of May, China has imported less soybeans from Brazil compared to the previous year. From January to May, China has imported 15.66 million tonnes of Brazilian soybean, down from 22.04 million tonnes of soybean in the same period a year ago, Reuters said.
China’s US soybean imports dipped in May to 244,431 tonnes compared to 491,700 tonnes in the same period of last year, Reuters reported citing customs data. But overall, for the first five months of this year China has purchased 21.53 million tonnes of soybeans from the United States compared to 8.97 million tonnes in the previous year.
The country’s overall soybean imports are anticipated to rise due to increasing supplies and pressuring crush margins, Reuters said.