Last month, purchasers from the People’s Republic of China received over eight million six hundred forty thousand tons of soybeans from external suppliers for sale.
Such import volumes are record for China since the end of summer 2018.
Representatives of the customs service of the People's Republic of China shared this information with the general public. In addition, data were published that despite the growth in imports, indicators still remained well below the expectations that Chinese analysts and buyers placed on the market.
Experts attribute this state of affairs to the fact that the Chinese side has constantly postponed deliveries to a later date. This situation was provoked by the trade war that is being waged today between the United States of America and the People's Republic of China.
Note that after the spring exacerbation between the conflicting parties, which occurred in May 2019, the cost of soybean meal became significantly higher. In July, deliveries, which took place in May, were in a “frozen” state due to higher prices and unstable market conditions.
We add that during the period from January 1 to August 1, 2019, the People's Republic of China purchased forty-six million nine hundred and ten thousand tons of soybeans on the foreign market. This figure is eleven percent inferior to the figures recorded in the same period of 2018.