Chinese Soybean: China Increases Imports of U.S. Soybeans

BEIJING: Jan. 20: China’s soybean imports from the U.S. in calendar 2021 rose 25 per cent year-on-year, while imports from Brazil fell nearly 10 per cent year-on-year, customs data showed on Thursday. According to customs data, China will import 32,3 million tons of soybeans from the United States in 2021, up from 25,89 million tons in 2020; and 58,15 million tons of soybeans from Brazil, down 9,5 percentage points from 64,28 million tons in 2020. China has stepped up its purchases of U.S. soybeans because of compliance with the U.S.-China trade deal. Based on the Phase 1 trade agreement signed between China and the United States in January 2020, China pledged to purchase $80,1 billion in U.S. agricultural products in the two years from January 2020 to December 2021, of which the import value in 2021 will not be less than $43,5 billion. Continue to pay attention to China’s soybean imports.

Current Market Price in China for 2020 CROP Soybean