China’s soybean imports from Brazil surged in April compared to the previous month owing to the arrival of delayed shipments, according to customs data released on May 20th. According to data from the General Administration of Customs, China, the world’s largest soybean importer, received 6.3 million tonnes of the product from Brazil in April, up 120% from the 2.87 million tonnes seen in March. These figures also indicate an increase from the 5.08 million tonnes that China received from Brazil in the same month last year. Bad weather delayed the harvest and, consequently, soybean exports from Brazil, reducing shipments at the beginning of the year. Soybean arrivals from Brazil started to increase in April and are expected to remain plentiful in May as previously purchased cargoes pass through customs.
Sources: Money Times/Datamar News