China’s imports of soybeans from Brazil saw a significant increase of 108% in November compared to the same month last year. The country imported 5.29 million tons of oilseeds from Brazil in November, according to the General Administration of Customs. This surge in imports can be attributed to the attractive prices of this year’s record crop from Brazil, leading Chinese buyers to increase their purchases. In November, China’s total soybean imports were 7.92 million tons. Total sales from Brazil to China totaled 64.97 million tons between January and November 2023, a 25% increase over the same period the previous year. Brazil again led China’s grain imports in November, with 3.22 million tons.
Source: Revista Dinheiro Rural (*Translated by Ia Niani)