Article content
BEIJING — China’s soybean imports from Brazil fell 16% in April compared with the same month a year ago, data showed on Saturday, keeping supplies from the South American nation well behind last year’s level after delays to its harvest.
The world’s top buyer of soybeans imported 5.3 million tons of the oilseed from Brazil, its largest supplier, versus 6.3 million tons a year earlier, General Administration of Customs data showed.
Article content
Chinese buyers took advantage of this year’s record Brazilian soy crop and cheap prices to step up purchases earlier this year.
Article content
But a delayed Brazilian harvest and loading of beans slowed shipments, while increased inspections by China on soybean arrivals last month further reduced imports, traders said.
So far this year, imports from Brazil remain 28% behind that of a year ago, with 9.21 million tons in the first four months, compared with 12.7 million tons in the same period of 2022.
Imports from the United States continue to edge higher, rising by 11% in April from the year before to 1.82 million tons.
US shipments for this year so far stand at 18.24 million tons, compared with 15 million tons last year.
For corn, arrivals from the United States fell to 53,099 tons, down from 1.51 million tons a year ago. Total Chinese corn imports in April contracted 55% on a year ago to 1 million tons, with Ukraine the dominant supplier.
(Reporting by Dominique Patton and Ningwei Qin; Editing by Sam Holmes & Simon Cameron-Moore)
financialpost.com