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QINGDAO TODAY
在线翻译:
szdaily -> Business -> 
Soybean imports fall on dropping demand
    2019-06-11  08:53    Shenzhen Daily

THE country’s soybean imports fell 24 percent in May from the same month last year, customs data showed yesterday, as the ongoing Sino-U.S. trade tensions and African swine fever checked demand.

China brought in 7.36 million tons of soybeans in May, down from 9.69 million tons last year, according to data from the General Administration of Customs. The May figure was also down from 7.64 million tons in April, when shipments had jumped as buyers delayed cargoes on a tax change.

China imported 31.75 million tons in the first five months of 2019, down 12.2 percent from the same period last year, as higher tariffs on shipments from the United States, China’s second-largest supplier of soybeans, curbed buying.

“Soybean imports were lower as the higher tariffs on U.S. shipments continued to weigh. And demand is weak due to African swine fever. Shipments from Brazil also dropped a lot,” said Xie Huilan, an analyst with Cofeed, an agribusiness research firm.

Chinese buyers last year scooped up a bumper harvest in Brazil, its top supplier of the oilseed, on worries of future tight supplies a month after China threatened to levy the 25 percent duty on U.S. soybean imports in addition to the regular import duties and fees.

Chinese crushers still booked more cargoes from Brazil and Argentina this year.

Soybean shipments in the coming months were expected to jump significantly from May, even while African swine fever outbreaks continue to cut demand, said Monica Tu, analyst with Shanghai JC Intelligence Co.(SD-Agencies)

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