Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

China’s Market Share of Soybean Imports May Rise to 60 Percent

Dec. 13 (Bloomberg) -- Chinese soybean imports may surge 10 percent in the marketing year that started on Oct. 1, increasing the country’s share of world purchases to 60 percent, Hamburg-based researcher Oil World said.

China’s inbound soybean shipments will total 57.8 million metric tons this year, Oil World said today in a report. Global imports will total 95.9 million tons, according to the report. Brazilian shipments to China surged to 1 million tons in November from 10,000 tons in the same month a year earlier and Argentinian exports to the East Asian country more than tripled to 400,000 tons, according to the report.

“Chinese imports are picking up,” Oil World said. “The latest exports of soybeans to China were quite impressive with shipments from South America unusually high.”

Soybean futures have dropped 21 percent this year on the Chicago Board of Trade. The price has declined on speculation that demand for raw materials used to make food and fuel will fall amid faltering global economies.

China imported a total of 5.41 million tons from the U.S., Argentina and Brazil in November, up 3 percent from the same period a year earlier, Oil World said. China’s share of the soybean-import market was 58 percent last year, data from the researcher show. Production in the country may fall 8.7 percent, according to the report.

To contact the reporter on this story: Tony C. Dreibus in London at tdreibus@bloomberg.net.

To contact the editor responsible for this story: Claudia Carpenter at Ccarpenter2@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.