BEIJING, CHINA — China’s soybean imports in November increased significantly from the previous month as more shipments arrived from the United States, Reuters reported, citing customs data.
China imported 8.57 million tonnes of soybeans in November, an increase of 68% from October, according to data from the General Administration of Customs.
Shipments from the United States were limited in September because of Hurricane Ida but picked up later as the market entered the peak export season.
However, overall imports from the United States are expected to drop from the previous year because of the hurricane delays and strong competition from an early Brazilian harvest.
China imported 87.65 million tonnes of soybeans in the first 11 months of the year, down 5.5% from the corresponding period the previous year, the data showed.
Soybean shipments in 2021 slowed from last year as low crush margins curbed demand.
China also brought in 673,000 tonnes of vegetable oils in November. Imports in the first 11 months of the year were 9.573 million tonnes, up 1.6% on the year.