Cofeed News: according to customs data, February imports of soybeans amounted to 5,420,000 tonnes, decreasing by 36.10% as compared to January’s 8,480,000 tonnes with 3,060,000 tonnes lower, and with a comparison to January a year ago, imports still fell 120,000 tonnes from 5,540,000 tonnes by 2.2%. Generally, USA is the largest supplier for China’s imports, to be specific, about 3,345,109 tonnes of soybeans in February were from USA, while roughly 1,746,279 tonnes came from Brazil, the second largest supplier for China’s soybean imports.
Overall, China imported 37,994,200 tonnes of soybeans in year 2017/2018 (as from October 2017), a year-on-year rise of 2,753,900 tonnes by 7.80% from 35,240,300 tonnes. Margins of soybean processing turn lucrative for demand for feed ingredient remains strong, particularly, soybean processors in Shandong province had been in the black since August of year 2017.
Details for China’s imports of soybeans in February: 3,345,109 tonnes from the United States; 1,746,279 tonnes from Brazil; 207,291 tonnes from Canada; 120,112 tonnes from Russian Federation; 4,664 tonnes from Ethiopia; 467 tonnes from Kazakhstan; 312 tonnes from Ukraine. February imports of soybeans priced at USD $415.93 per tonne on average, down USD $4.82 per tonne from USD $420.75 in January.
