United States soybean exporters are boosting sales to China’s edible oil and feed market as many Chinese companies have turned to cheaper US soybeans in the past three months while avoiding potential shipping delays from South America. China had bought 26 million metric tons of soybeans from the US as of Tuesday for the 2013-14 market year (September 2013 to August 2014)…Full Article: China Daily Dec 2013
- Notable Chinese soybean purchasers include Yihai Kerry (Wilmar International), Cargill Investment (China) Ltd., and China National Cereals, Oils and Foodstuffs Corp (COFCO)
- From January-Oct 2012, China imported 16.4 million MTs of soybeans from the U.S., 22.2 million MTs from Brazil, 4.2 million MTs from Argentina, and 1.3 million MTs from other countries (e.g. Uruguay, Canada, etc.) From 2006 to 2011, Chinese imports of U.S. soybeans increased from 9.8 million to 22.2 million MTs, or by 125%. The second largest supplier was Brazil, with Chinese imports rising from 11.6 million to 20.6 million MTs, or by 77%.