Demand from Chinese processors
It was determined that since the beginning of the season (September-June), soybean imports to China are estimated at 87 million tons, which is a new record for this period and exceeds the 84 million tons imported from September to June in the 2022/2023 season.
The high import rates are attributed to active demand for soybeans from Chinese oilseed processors. It is worth noting that the use of soybean oil has increased significantly due to reduced purchases of sunflower and palm oils, and the consumption of soybean meal in animal husbandry has also increased.
