BEIJING: China’s soybean imports rose sharply in April from the same month last year, although shipments were slightly below forecasts made by analysts expecting a surge of arrivals from the U.S. and Brazil.
Soybean imports in April came in at 8.48 million metric tons, more than double the 4.02 notched in March and up 40% on year. Imports averaged 9.3 million metric tons a month last year.
Analysts expect soybean arrivals from April to June to average above 10 million metric tons per month as more U.S. shipments and Brazil’s record crop reach Chinese ports.
China March soybean imports rise 15% y/y, lag expectations amid Brazil checks
Traders are watching a summit between U.S. President Donald Trump and his Chinese counterpart Xi Jinping on Thursday and Friday for clues about future Chinese purchases of U.S. soybeans.
From January to April, soybean arrivals in the world’s biggest buyer totalled 25.2 million tons, versus 23.19 million tons over the same period last year, the data showed.
China imported 507,000 tons of meat in April. Imports year to date hit 2.1 million tons, down 2.9% on year.