Chinese imports of US soybeans surged almost three-fold in October on a year-on-year basis, customs data showed on Wednesday, as cargoes booked following a Phase 1 trade deal between the United States and China arrived in the country, reported Reuters.
The world’s top buyer of soybeans, brought in 3.4 million tonnes of the oilseed from the United States in October, up 196.4% from 1.147 million tonnes a year ago, data from the General Administration of Customs showed.
Chinese buyers stepped up purchases of US farm produce including soybeans earlier this year, partly to fulfil commitments made in a January deal aimed at tempering the trade war between the world’s two largest economies.
You must log in to post a comment.