Soybean: China’s Soybean Imports in the First Four Months Fell

BEIJING, May 9: China’s soybean imports in April 2022 were 8,08 million tons, up 27% from 6,35 million tons in March and higher than 7,45 million tons in the same period a year earlier, according to data from the General Administration of Customs of China. China’s soybean imports have been slow so far this year. In the first four months, China imported 28,36 million tons of soybeans, down 0,8 percent from 28,59 million tons in the same period last year.

Analysts said the crushing losses on soybeans have severely impacted import demand. On May 6, China’s soybean crush gross profit margin was negative $21,88/ton, compared with $7,50/ton in the same period last year. In its April supply and demand report, the U.S. Department of Agriculture forecast that China’s soybean imports in 2021/22 (October to September) will be 91 million tons, lower than the 94 million tons forecast in March, and it is also lowered for three consecutive months. The soybean import forecast is well below 99,76 million tons a year ago.

Current Market Price in China for Chinese Soybean