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China Increases Soybean Imports from Brazil

China brought in 8.18M tonnes of oilseed from Brazil in July, up 27%

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China’s soybean imports from top supplier Brazil surged in July from a year ago, customs data showed on Tuesday, as cargoes bought on the cheap in recent months arrived in the country, reports Reuters.

The world’s top soybean buyer brought in 8.18 million tonnes of the oilseed from Brazil in July, where prices have been cheap due to ample production, data from the General Administration of Customs showed.

That was up 27% from 6.42 million tonnes in July 2019, but lower than the record 10.51 million tonnes of soybeans imported from the South American country in June.

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