China’s 2021 Soy Imports from U.S. Rise While Brazilian Shipments Fall
China’s soybean imports from the United States in 2021 rose from the previous year as it stepped up agricultural purchases under a trade deal agreed with Washington, reports Reuters. Meanwhile, annual Brazilian shipments fell, customs data showed on Thursday.
The world’s top soybean importer brought in 32.3 million tonnes of U.S. soybeans in 2021, up 25% from 25.89 million tonnes in 2020, data from the General Administration of Customs showed.
Annual soybean imports from Brazil came in at 58.15 million tonnes, down 9.5% from 64.28 million in 2020, the data also showed.
Under a trade pact with Washington, China agreed to increase its imports of all agricultural products from the United States in 2021 by no less than $19.5 billion more than a baseline of $24 billion worth of imports in 2017.
Get The Newsletter Today!
