BEIJING: China’s soybean imports in November 2021 may rebound strongly from 8.5 million to 9.5 million tons. In comparison, customs data shows that China’s soybean imports in October 2021 were only 5.11 million tons, a decrease of 25.7% from the previous month and a year-on-year decrease of 41.2%.
The decline in imports is that the meagre profit of domestic soybean crushing has slowed down demand from oil plants, and Hurricane Ida interrupted the operation of U.S. Gulf export facilities for several weeks, which also restricted U.S. soybean exports to China. However, the recent improvement in China’s soybean crush profits has helped to restore import demand.
Current Market Price in China for Chinese soybean
| Product Name | Chinese soybean |
| Type | Non-Gmo |
| Grade | A |
| Moisture | 12% max |
| Package | 25kg paper bag |
| Purity | 99.5% |
| Loading | 22mt /20GP |
| Fob Dalian | Usd 1140/mt |
| Delivery | 20 days after the contract |