China's Jan-Feb, 2021 soybean imports have declined slightly due to delays in cargo

[caption id="attachment_6811" align="aligncenter" width="1014"] File photo[/caption] China's soybean imports fell slightly in the first two months of 2021, according to tariff data on Sunday (March, 2021) due to continued shipments due to rains in top export Brazil. The world’s top market for soybeans brought in 13.41 million tonnes of the 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 was in mid-February. Soybean imports surged to a record last year as crushers ramped up purchases on improved margins and healthy demand from the pig sector. Chinese importers typically turned to U.S. cargoes in the fourth quarter and early months of the year when American beans dominate the market. Beijing also boosted purchases of U.S. farm products, including soybeans, to fulfill its pledge in the bilateral Phase 1 trade deal reached in January 2020. Find more. Source: Online/SZK