Chinese imports of soybeans totaled 88.03 million tonnes in the first nine months of 2018, down 7.9 percent year-on-year, the Customs Department of China said on Monday. 2018, 5.72 million tons were imported, a volume 40 percent lower than in the same period of the previous year.
The Asian country is the largest buyer of soybeans in the world and relies heavily on foreign suppliers. Brazil and the United States are the main players that supply the Chinese market. Last year, with the trade war between China and the Americans, Brazil gained trade share with the Asians, while the US lost ground.
According to the National Association of Exporters of Cereals (Anec), only in Nov., 97 percent of Brazilian soybean shipments went to China.