China imported 74.53 million tons of soybeans in 2020 through September

China's soybean imports also rose in September. Originally late deliveries have now been quickly cleared by the customs authorities. Arrivals will remain robust in the months ahead, partly because China has to meet its purchase commitments for US agricultural commodities.
The demand for oilseeds will remain high in China because the national pig population now has to be rebuilt quickly after the heavy losses caused by the African swine fever epidemic.
China bought 9.79 million tons of soybeans in September, 1.9% more than in August when 9.6 million tons were imported. That is 19% more than in September 2019 when 8.2 million tons of oilseeds were imported.
Some deliveries from Brazil had been delayed in the last few weeks but now arrived in September. The oil mills had bought large quantities of soybeans in Brazil because they achieved very good hit wages. As a result, a record-breaking oilseed inventory had built up in China in the past few months.
In March, the weather in Brazil was excellent for harvest and exports. The last harvest was sold and exported very quickly.There isn't much left of it now.
China had also purchased large quantities of soybeans in the US for delivery from the new crop in September. For this purpose, a framework agreement was signed between the two countries in January. These deliveries are expected in China in the coming months.
In China, soybean meal stocks were depleted to 994,500 tons on October 11th. At the end of August it was 1.27 million tons. China's soybean stocks were reported at 7.12 million tons on October 11th.
China is the world's largest producer and consumer of pigs that are fed soybean meal. African swine flu (ASF) broke out there for the first time in August 2018. More than half of the pigs either died from the disease or were culled on government orders to prevent the virus from spreading.
In the first nine months of this year, China's soybean imports rose by 15.5%. By the end of September, 74.53 million tons of this oilseed had been imported.

Hansa Terminhandel GmbH
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