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China imports record amount of Brazilian soybeans in June soybeanChina imports record amount of Brazilian soybeans in June
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07.27.2020By Susan Reidy
BEIJING, CHINA — China imported a record amount of soybeans from Brazil in June according to customs data released on July 25, Reuters reported.
Demand for soybeans is increasing as China starts rebuilding its pig herds following deadly outbreaks of African swine fever.
China imported 10.51 million tonnes of soybeans from Brazil in June, an increase of 91% from the previous year, Reuters said. The totals were up 18.6% from May.
China’s overall soybean imports in June were 11.16 million tonnes. The nation imported 267,553 tonnes of soybeans from the United States in the month down 56.5% from the previous year.
China is starting to increase its US purchases and will need to ramp them up further to meet the totals outlined in the phase one trade deal between the two countries.
Chinese crushers in the south had ample inventories in recent weeks due to a curbed demand from the animal sector. Crushers in the north were doing better as demand is picking up from