Chinese soybean imports from Brazil increased by 10.9% in August compared to 2020 – poca Negócios

Chinese soybean imports from Brazil increased by 10.9% in August compared to 2020 - poca Negócios

Soybeans: Sugar imports from Brazil increased in August (Photo: (Photo: Pexels))

Chinese soybean imports from Brazil rose 10.9% in August compared to the same month last year, customs data showed on Monday, while US landings declined sharply.

China, the world’s largest soy importer, took in 9.04 million tonnes of oilseeds from Brazil in August, compared to 8.15 million tonnes in 2020, according to data from the General Administration of Customs.

In contrast, US imports declined last month to 17,575 tonnes, down 89.4% from 166,370 tonnes in August 2020.

Chinese buyers bought four to six shipments of Brazilian soybeans early last week amid concerns among global importers that delays in US shipments after Hurricane Ida could keep US exports high season.

Ida hit the Louisiana coast in late August before becoming extinct in early September.

Overall, China imported 9.49 million tonnes of soybeans in August, down slightly from 9.6 million tonnes a year ago.

(Reporting by Hailey Gu and Tom Daly)

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About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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