Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

China's November soybean imports surge as U.S. cargoes booked during truce arrive

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/08/2019 | 06:18am EST
FILE PHOTO: Imported soybeans are transported at a port in Nantong

China's November soybean imports jumped from a year ago as shipments from the United States booked during a truce in the Sino-U.S. trade war cleared customs, customs data showed.

China imported 8.28 million tonnes of soybeans in November, up 54% from 5.38 million tonnes a year ago, as U.S. soybean cargoes arrived, data from the General Administration of Customs showed on Sunday.

The November figure was also up about 34% from October's 6.18 million tonnes, according to the data.

The world's top soybean buyer usually gets most of its oilseed imports from the United States in the final months of the year when the U.S. harvest dominates the market. American cargoes, however, plunged after Beijing slapped a 25% tariff on a list of U.S. products including soybeans in July last year.

Chinese buyers had steered clear of U.S. produce amid the trade war but have been buying more U.S. beans in recent months after the government offered some of them waivers to buy American cargoes exempt from extra tariffs, in a goodwill gesture to Washington.

China said on Friday it will offer more waivers on some soybeans shipments as the two sides try to thrash out an agreement to defuse their protracted trade war.

Still, China's demand for soybeans, crushed to produce soymeal for animal feed, has been curbed by a devastating outbreak of African swine fever that has slashed its pig herd by 41%, official data shows.

For the first 11 months of the year, China bought in 78.97 million tonnes of soybeans, down 4% from the same period last year, customs data showed. <CNC-SOY-IMP>

Hopes for a U.S.-China trade deal, meanwhile, remain up in the air after U.S. President Donald Trump last week said talks were "moving right along", but Chinese officials reiterated that some U.S. tariffs must be rolled back first.

Imports of vegetable oils in November were 1,059,000 tonnes, up 16.1 percent from the previous month.

(Reporting by Hallie Gu and Dominique Patton; Editing by Himani Sarkar)

Stocks mentioned in the article
ChangeLast1st jan.
SOYBEAN MEAL FUTURES (ZM) - CBE (ELECTRONIC)/C1 0.00% 300.6 End-of-day quote.0.23%
SOYBEAN OIL FUTURES (ZL) - CBE (ELECTRONIC)/C1 0.85% 33.31 End-of-day quote.-4.23%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
09:29aSpaceX to attempt rocket failure test again after bad weather delay
RE
09:29aMINISTRY OF PERSONNEL PUBLIC GRIEVANCES AND PENSI : Dr Jitendra Singh visits Udhampur as part of Special Outreach Programme of Central Government
PU
09:24aCONDUCTING BLOCK DEVELOPMENT COUNCIL ELECTIONS IN J&K A HISTORICAL STEP : Anurag Thakur
PU
07:15aTrump Campaign Talks Up Trade Deals as 'Promises Kept,' but Uncertainty Over China Lingers
DJ
07:00aIndia says no meeting with Malaysia in Davos as palm row simmers
RE
06:19aBTRC BANGLADESH TELECOMMUNICATION REGULATORY COM : Operation/Inspection/Investigation Information against fake and illegal mobile handset at Dhaka
PU
06:17aDespite great snow, Lebanon's ski slopes suffer in economic crisis
RE
04:04aPCBS PALESTINIAN CENTRAL BUREAU OF STATISTICS : The Wholesale Price Index, during Fourth Quarter of 2019 & during 2019
PU
03:12aCHINA WILL INCREASE IMPORTS FROM U.S. ACCORDING TO 'MARKET PRINCIPLES' : official
RE
03:04aWORLD ECONOMIC FORUM : Half of World's GDP Moderately or Highly Dependent on Nature, Says New Report
PU
Latest news "Economy & Forex"