China To Import Record Quantity Of Soybeans In June
China's Commerce Ministry says that the country will import an all-time record 4.62 MMT of soybeans in June.
The country imported 3.96 MMT in May, up from 3.71 MMT in April, says the Ministry, bringing total imports for the year so far to just under 18 MMT.
The Chinese government continue to buy beans aggressively on the domestic market hoping to stimulate the economy and maintain growth, this in turn keeps forcing Chinese crushers to look to import.
It is estimated that around half of China's soybean imports are now coming from Brazil, with the reminder split roughly 50:50 between the US and Argentina.
The country imported 3.96 MMT in May, up from 3.71 MMT in April, says the Ministry, bringing total imports for the year so far to just under 18 MMT.
The Chinese government continue to buy beans aggressively on the domestic market hoping to stimulate the economy and maintain growth, this in turn keeps forcing Chinese crushers to look to import.
It is estimated that around half of China's soybean imports are now coming from Brazil, with the reminder split roughly 50:50 between the US and Argentina.