According to official Chinese customs data, Brazil shipped around 69,95 million tons of soybeans to China last year, 29% more than in 2022. The South American region was able to expand its share in the structure of oilseed imports to China to 70%.
For American exporters of oilseeds, the situation looks somewhat worse: firstly, they reduced their sales to the Middle Kingdom last year by 13% to 24,17 million tons, and secondly, their share in the structure of shipments fell to 24 % decreased.
As the filing shows, in December China purchased 4,98 million tons of soybeans in Brazil (+94% for the year) and 3,85 million tons (-31%) in the United States.
In addition, according to Reuters polls, imports of beans in China in the first quarter of this year may decrease by about 20% year-on-year, to 18,5 million tons, following a record decline in the number of pigs in the country.
Source: oleoscope (Russian)