China’s May soybean imports from Brazil up 40% year-on-year

On June 20, China imported 10.94 million tons of soybeans from Brazil in May, a jump of 40% from 7.79 million tons a year earlier, according to data from China’s General Administration of Customs.

Due to Brazil’s soybean harvest and its price advantage, China has increased its purchases of Brazilian soybeans this year.

Arrivals in the first five months of the year were 20.15 million tonnes, almost on par with the 20.47 million tonnes in the same period last year.