China is actively increasing purchases of soybeans from South America

In recent months, China has significantly increased its soybean imports, mainly from South American countries, Oil World reports.

During March-April, soybean shipments from Brazil to China increased by 3.1 million tons compared to the same period last year to a record 21.9 million tons. It is expected that import rates will also remain high in May-June.

Only 70 thousand tons of soybeans were delivered from Argentina in April (165 thousand tons last year), but a seasonal increase in supply volumes is expected in the near future.

Soybean imports from the US during January-April decreased compared to the corresponding period last year from 9.4 to 5.8 million tons, with only 0.55 million tons delivered in April, and if the trade war between the countries continues, supply volumes may decrease even more.

As of April 25, China has renewed its permit to import Brazilian soybeans for five companies (Cargill, ADM, Olam, and Brazilian companies C.Vale and Terra Roxa), to which it had banned supplies at the end of January due to "chemical contamination, pests, or insects."