According to preliminary estimates by Chinese customs, the country has a record 12,02 million tons in May Soybeans imported, which is 65% more than in April (7,26 million tons) and 24% more than in May 2022, APK-Inform reports, citing Reuters.
The previous monthly import maximum at Oilseeds was recorded in June 2020 – 11,2 million tons.
As previously mentioned, the country's oilseed imports have surged as cargoes held up during inspections over the past month have been unloaded at Chinese ports. Thus, in the first five months of this year, China's soybean imports totaled 42,31 million tons, up 11,2% from January-May 2022.
At the same time, the volume of soybean imports into the country in June is expected to be even higher, amounting to about 13 million tons.
Source: oleoscope (Russian)