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On August 20th, the General Administration of Customs of China announced statistical data showing that due to the decline in profits of the soybean oil crushing industry, China's demand for Brazilian soybean purchases has decreased .
In July, China imported 8.
67 million tons of soybeans, down 14.
1% from the same period last year.
Among them, 7.
88 million tons of soybeans were imported from Pakistan, down 3.
7% year-on-year; 38,331 tons in the same period last year .
According to estimates, the profits of Chinese soybean oil producers have reached their lowest point at the end of June, and each ton of soybeans crushed in the future will lose about 176 yuan (approximately US$27) .
With the rapid recovery of domestic pig farming, soy oil producers increased their purchases of soybeans from major global suppliers such as Brazil in the first few months of this year, and made substantial profits from them.
However, as the price of pigs fell, the profit of the pig industry fell Negative value, the demand for soybeans began to weaken .
Unfavorable factors such as the decline in pig profits and the increase in the proportion of wheat feed will further inhibit China's demand for soybean imports.
It is expected that China's soybean imports will continue to decline in the next few months .
In July, China imported 8.
67 million tons of soybeans, down 14.
1% from the same period last year.
Among them, 7.
88 million tons of soybeans were imported from Pakistan, down 3.
7% year-on-year; 38,331 tons in the same period last year .
According to estimates, the profits of Chinese soybean oil producers have reached their lowest point at the end of June, and each ton of soybeans crushed in the future will lose about 176 yuan (approximately US$27) .
With the rapid recovery of domestic pig farming, soy oil producers increased their purchases of soybeans from major global suppliers such as Brazil in the first few months of this year, and made substantial profits from them.
However, as the price of pigs fell, the profit of the pig industry fell Negative value, the demand for soybeans began to weaken .
Unfavorable factors such as the decline in pig profits and the increase in the proportion of wheat feed will further inhibit China's demand for soybean imports.
It is expected that China's soybean imports will continue to decline in the next few months .
