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China's April soybean imports increase by 11%

21 May 20212 min reading

China's April soybean imports increased by 11% compared to the same month last year. May imports are expected to be even stronger in the country recovering from ASF.

Customs data showed China imported 7.45 million tons of soybeans in April this year, compared to 6.714 million tons in April 2020. China's April soybean imports are up 11% compared to the same month last year as delayed Brazilian shipments of the oilseed arrive, according to data from the General Administration of Customs, Reuters reported. Analysts say this was a fairly strong number as there has been delayed shipments from Brazil this year. May imports are expected to be stronger as most of the delayed shipments should be arriving. Soybean crushers in China have increased imports of the oilseed from Brazil and the United States in early this year, projected higher demand as China's swine industry steadily recovers. However, rains in Brazil have delayed the harvest and export of soybeans, which resulted in a decline in shipments to China in March. Importers in China looked to the United States to make up the losses. Industry players think that soybean exports from Brazil were projected to dominate the China market from April to late 2021. Between January to April 2021, China imported 28.63 million tons of soybeans. This is 17% higher compared to same period in 2020, based on customs data.

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