China January Soybean Imports Slip 13 Percent On Year, Tariffs On U.S. Cargoes Weigh

www.oann.com | 4/4/2018 | Staff
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BEIJING (Reuters) – China’s soybean imports fell 13 percent in January from the same month a year earlier, customs data showed on Thursday, as a hefty duty imposed on shipments from the United States, its second-largest supplier, curbed purchases.

China brought in 7.38 million tonnes of soybeans in January, down from 8.48 million tonnes a year earlier, preliminary data from the General Administration of Customs showed. January’s imports were up 29 percent from 5.72 million tonnes in December.

Figures - Cargoes - December - Customs - January

“The figures were higher than expected. It was mainly because some cargoes delayed in December cleared customs in January. They were mainly Brazilian beans,” said Monica Tu, analyst with Shanghai JC Intelligence Co.

China, the world’s top soybean buyer, typically imports the majority of its oilseeds from the United States in the period October-January after the U.S. harvest comes to market.

Purchases - Soybeans - Buyers - US - Cargoes

However, purchases of American soybeans plummeted through 2018 as buyers avoided U.S. cargoes amid tariffs and a trade war between Beijing and Washington. The customs department doesn’t disclose the origin of imports in its preliminary data.

The two countries then agreed...
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