China expected to reduce soybean imports in 2023/24, says USDA attaché
Sep, 12, 2023 Posted by Gabriel MalheirosWeek 202337
The United States Department of Agriculture (USDA) attaché in Beijing reported that China is expected to import 98.5 million tons of soybeans in 2023/24, 2.5 million tons less than forecast for 2022/23. According to the USDA, the increase in domestic production and greater imports in 2022/23 should result in lower purchases in the harvest that officially started this month.
See below Brazil’s soybean exports to China between January 2019 and Jul 2023.
Soy exports to China | Jan 2019 – Jul 2023 | WTMT
Source: DataLiner (click here to request a demo)
In the first ten months of 2022/23 (October-July), China imported 84.3 million tons of soybeans, 10% more than in the same period of 2021/22. The Beijing USDA also estimated that soybean processing in China in 2023/24 will reach 95 million tons compared to 94 million tons in 2022/23.
Source: Globo Rural
To read the original news report, see: https://globorural.globo.com/agricultura/soja/noticia/2023/09/usda-de-pequim-prev-menor-importao-de-soja-pela-china-em-202324.ghtml
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