In the fourth quarter of last year, China usually bought soybeans mainly from the United States, because new soybeans were on the market in the United States, while Brazilian soybeans were not yet mature. But in July this year, China imposed a 25% tariff on U.S. soybeans, and the market feared more restrictions, so buyers avoided buying U.S. soybeans.
According to data released by GACC, China imported 6.53 million tons of Brazilian soybeans in October, up from 3.38 million tons in the same period last year. China's soybean imports from Brazil accounted for 94% of total soybean imports in October.
China imported 6.92 million tons of soybeans in October, down from 7.59 million tons in September, as high domestic inventories slowed the pace of imports.
In October, China imported only 66,955 tons of soybeans from the United States, much lower than 1.33 million tons in the same period last year.
In early October, China's domestic soybean stocks reached a record of 9 million tons, and soybean meal stocks were also higher than previous years.
In October, China imported 92,806 tons of soybeans from Russia, 60% higher than 57,643 tons in the same period last year.
In October, the China Sea imported 127,630 tons of soybeans from Uruguay, down from 258,787 tons in the same period last year.
In October, China imported 33,200 tons of soybeans from Argentina, down from 772,756 tons in the same period last year.
Source：www.chinagrain.cn
