Tag Archives: ECONOMIC / TRADE

China’s soybean imports from Brazil plummeted in Jan-Feb due to cargo delays | Instant News


BEIJING, March 20 (Reuters) – China’s soybean imports from Brazil fell sharply in the first two months of 2021 compared to the same period last year, customs data showed on Saturday, as rain delayed some shipments from the top exporter.

China, the world’s biggest soybean buyer, brought in 1.03 million tonnes of oilseed from Brazil in Jan-Feb, down nearly 80% from 5.14 million tonnes a year earlier, data from the General Administration of Customs showed.

Rain in Brazil has slowed harvests and exports in the South American country, forcing some crushers in China to consider limiting operations.

Shipments from the United States to China in Jan-Feb totaled 11.9 million tonnes, nearly double the volume of 6.1 million tonnes a year earlier.

China increased purchases of US agricultural products, including soybeans, after the two sides signed an initial trade deal in January 2020.

China’s total soybean imports in the first two months of 2021 fell 0.8% to 13.41 million tonnes.

Its appetite for oilseeds is expected to continue to increase thanks to favorable margins and healthy demand from the rapidly recovering pig sector.

New cases of African swine fever in recent months, however, have cast doubt on pork production in the country, and raised concerns over demand for soymeal, the most important protein ingredient in animal feed.

Chinese crusher brings soybeans to be crushed into soymeal, and for cooking oil.

The crusher in Rizhao, Shandong, a major soybean processing center, CNSOY-RZO-MRG could produce about 158 ​​yuan ($ 24.28) for each tonne of oilseed they crushed on March 19, well above the historical average for the past 10 years. ($ 1 = 6,5070 Chinese yuan renminbi)

Reporting by Hallie Gu and Emily Chow; Edited by Kim Coghill

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China’s Jan-Feb soybean imports in 2021 fell slightly due to cargo delays | Instant News


* Crushers increase healthy demand based purchases

* Rain on Brazil’s top exporter slows harvests, boosting US exports

* New cases of African swine fever disrupt swine production, demands soymeal

BEIJING, March 7 (Reuters) – China’s soybean imports in the first two months of 2021 fell slightly from a year earlier, customs data showed on Sunday, as rain on Brazil’s top exporter slowed some shipments.

The world’s main soybean market brought in 13.41 million tonnes of oilseed in January and February, down 0.8% from 13.51 million tonnes a year earlier, according to data from the General Administration of Customs.

China’s customs office releases preliminary trade data for January and February together rather than separately to smooth out distortions caused by the week-long Lunar New Year holiday, which this year took place in mid-February.

Soybean imports spiked to a record last year as crushers increased buying by better margins and healthy demand from the hog sector.

Chinese importers typically switch to US cargoes in the fourth quarter and early months of the year when American beans dominate the market. Beijing is also pushing for purchases of US agricultural products, including soybeans, to fulfill its pledge in a bilateral Phase 1 trade deal reached in January 2020.

Crushers will also start buying from Brazil earlier in the year as new crops in the South American country enter the market, but rains have slowed harvests there and boosted US bean exports.

China’s demand has helped rebuild a once-large herd of pigs ravaged by the deadly African swine fever. Recent outbreaks, however, disrupted pig production in several northern and northeastern provinces, reducing demand for soymeal, a key ingredient in feed.

Chinese crushers bring soybeans to crush into soymeal to feed the livestock sector, and soyoil for cooking oil. (Reporting by Hallie Gu and Ryan Woo; Editing by William Mallard)

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TABLE-China’s October Trade with the United States, EU, other major economies | Instant News


    BEIJING, Nov 9 (Reuters) - China exports grew at the fastest pace in 19 months in
October, while imports also rose, official data showed on Saturday, as the world's
second-largest economy continued to recover after being hit hard by the coronavirus crisis
earlier this year.
    Exports in October rose 11.4% from a year earlier, beating analysts' expectations of a
9.3% increase and quickening from a solid 9.9% increase in September.
    Imports rose 4.7% year-on-year in October, slower than September's 13.2% growth, and
underperforming expectations in a Reuters poll for a 9.5% increase, but still marking a
second straight month of growth.
    Following is a breakdown of China's exports and imports with its biggest trade partners
in October.
    
 October     Exports  Imports     Balance      Exports    Imports     Exports     Imports
             ($bln)   ($bln)      ($bln)       +/- % y/y  +/- % y/y   +/- % m/m   +/- % m/m
 Japan          12.3        14.9         -2.6       5.7%        5.5%       -1.7%      -13.2%
 South          10.0        14.9         -4.9       5.4%        0.6%        0.7%      -15.2%
 Korea                                                                            
 Taiwan          5.2        19.0        -13.9       0.1%       24.4%       -3.1%      -10.0%
 European       33.6        22.8         10.8          *           *       -2.9%      -11.4%
 Union                                                                            
 USA            43.8        12.5         31.4      22.5%       32.9%       -0.3%       -5.7%
 Australia       5.2        10.1         -4.9      16.6%        6.6%        8.9%        1.3%
 ASEAN          34.4        25.9          8.5       7.3%        2.7%        0.1%      -16.1%
 
* China's customs agency no longer includes United Kingdom as part of the European Union in
publishing the country's trade data, rendering year-on-year calculations inaccurate based on
Reuters records.

 (Reporting by Stella Qiu and Ryan Woo; Editing by Rashmi Aich)
  

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China’s soybean imports in August from Brazil rose 22% from the previous year | Instant News


BEIJING, Sept 25 (Reuters) – China’s August soybean imports from Brazil rose 22% from a year ago, customs data showed on Friday, as buyers increased their purchases to take advantage of higher margins earlier this year.

China, the world’s biggest buyer of soybeans, brought 8.15 million tonnes of oilseed from Brazil in August, up from 6.68 million tonnes last year, data from the General Administration of Customs showed.

Crushers are increasing purchases from the South American country to meet strong demand for feed from the recovering hog industry.

Imports fell from 8.18 million tonnes in July.

China imported 9.6 million tonnes of soybeans throughout August.

“Buyers order lots of Brazilian cargoes early when profit margins are good,” said a crushing manager in southern China before the data came out.

“Now the profit margins have dropped due to the higher costs (of coffee beans),” said the manager, who declined to be named because he was not authorized to speak to the media.

Soybean arrivals in the coming months are expected to remain high, however, with more cargo arriving from the United States while deliveries in Brazil are slow, according to analysts and traders.

China imported 166,370 tonnes of soybeans from the US in August, down 90% from 1.68 million tonnes last year, and up from 38,333 tonnes in July.

National soybean inventory CFD-SBSTK-NATN rose to 7,934 million tonnes in the week of September 13, the highest since the week of October 30, 2018, and more than double the record low in March, according to data from Cofeed.

China’s national supply of soybean meal CFD-SBMST-NATN rose to 1.27 million tonnes in the week of August 30, the second highest on record, before edging down this month. (Reporting by Hallie Gu and Dominique Patton; Editing by Christian Schmollinger)

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