In China, Global Times reported that China’s soybean imports hit a record high for the month of September, with the country receiving 12.9 million tons of soybeans, according to data from China’s General Administration of Customs (GAC).
A Chinese analyst said that the robust performance came as demand from China remained persistent and soybean suppliers such as Brazil ramped up supplies amid heightened trade tensions between China and the US, which has been traditionally a key import source, the report stated,
Total imports for the first nine months of the year stood at 86.18 million tons, up 5.3 percent year-on-year, according to the data.
Chinese companies have been ramping up purchases of soybeans as they navigate the impact of heightened trade tensions between China and the US with a diversification strategy, Ma Wenfeng, a senior analyst at the Beijing Orient Agribusiness Consultancy, told the Global Times.
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Category: Food & Agriculture
