For the first time since March the Chinese Customs released the details of the origins of soybean imports into China and they clearly show the impact that the tariffs are having on trade. Seasonally, China’s imports from the US pick up in September as the first shipments of the new marketing season start to arrive in Chinese ports. However, this year’s imports from the US totalled 132,248 tonnes in September. That compares to 937,100 tonnes during the same month last year.
By contrast, China’s imports of Brazilian beans surged by 28%. Chinese buyers imported 7.59 million tonnes Brazilian soybeans in September, up from 5.94 million tonnes a year ago. Brazil also accounted from 95% of the total 8.01 million tonnes imported during the month, compared with 73% at the same time last year. This is a record-high monthly market share for the Brazilian commodity.
Sources:Arrow
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