China imported the record amount of 95.54 million tons of soybeans in 2017; That was 13.9% more than the year before.
As more meat is consumed than at any other time of the year during the New Year celebration in China, which starts on 15 February, soybean imports are rising in advance. December imports in 2017 were the second largest import volume in December at 9.55 million tons.
China's importers process soybeans into soybean meal, which is used as a protein-rich feed and soybean oil. China is home to the largest pork herd in the world.
Since August, wages have been at a high level, which has prompted importers to continue to import as much soybeans as the market can absorb. However, the state regulates imports through import permits.
Text: HANSA Derivatives Trading GmbH /
