China increases imports of soybeans, and food oils

China, which is the world's largest importer of soybeans in August 2017 bought a record 8.45 million MT of oilseeds, which is 10.2% higher than in the same period of the previous year, when imports of soybeans amounted to 7.67 million t. However, according to the General administration of customs of the country, the figure is 16.2% below the import volume of soybeans in July of the current year of 10.08 million tons of oilseeds, which was the largest since 2010.

As previously reported, in July the ports of China and worked in an emergency mode, trying to eliminate delays of ships and to minimize downtime.

For eight months of this year, China purchased in the world markets 63,34 million tons of soybeans, while during the same period of the previous year imports of soybeans amounted to 54 million tonnes.

In addition, imports of food oils in August of the current year relative to the previous month increased by 92,6% to 520 thousand tons.