By Hallie Gu and Shivani Singh
BEIJING, Apr 13 (Reuters) – China’s soybean imports, along with other grains such as corn and wheat, soared in the first quarter, boosted by robust demand from the meat-producing industry, data released by Tuesday showed. the customs office.
Soybean imports nearly doubled in March alone year-on-year, according to customs data, after shipments from Brazil – the world’s largest exporter of the oilseed – were able to unload at ports after delays.
Meanwhile, wheat and corn purchases jumped due to high domestic cereal prices and a shortage of supplies, the data showed.
China, the world’s largest soybean importer, bought 7.7 million tonnes of the oilseed in March, an 82% increase over the same period last year, according to data from the General Administration of Customs.
“Soybean arrivals in January-February fell short of market expectations due to delayed shipments. Some shipments were delayed earlier and then cleared customs,” said Xie Huilan, an analyst at agricultural consultancy Cofeed, speaking after the publication of the data.
“In January, more than 5 million tonnes of US soybeans were loaded for shipment to China and a portion of this volume arrived in March,” Xie said.
The customs office did not break down the monthly corn and wheat figures for March, which are generally released in the last fortnight. But he noted that China imported 6.727 million tonnes of corn in the quarter, more than five times more than the previous year, while quarterly wheat purchases more than doubled from a year ago, to 2.925 million tonnes.
(Reports by Hallie Gu and Shivani Singh. Edited in Spanish by Marion Giraldo)