China Imported 3.51 Million Tons Of Soybeans From Brazil in The First Two Months Of This Year, Up 241% Year-on-year

China imported 3.51 million tons of soybean products from Brazil in the first two months of 2022, an increase of 241% compared to the same period last year, according to data released by the Chinese General Administration of Customs on 20. 

The data show that China is the world's largest buyer of soybeans, and Brazil has been China's top soybean supplier, according to a report from Brazil's Globes and Exame website. 

In 2021, rains in Brazil delayed the harvest and export of soybeans. And this year, drought again affected the harvest and shipment of Brazil's crop, compressing soybean supplies to China and forcing many of Brazil's domestic soybean oil crushers to stop operations, pushing the price of soybean meal to record levels. Even so, Brazilian soybean arrivals in China are still well above the previous year's levels.