Skip to main content

May Imports: Soybean Surge Offsets Crash in Grain and Cotton

China's imports of agricultural products during May 2025 totaled $19.9 billion, almost the same as its imports in May last year, according to Chinese customs data. May was the first month in 2025 that Chinas' agricultural imports did not decrease from a year earlier.

China customs administration definition of "agricultural."

The most prominent changes in China's May 2025 agricultural import bill from a year ago were a $1.13-billion increase in soybean purchases that was offset by a $902-million decrease in cereal grain imports, and a $473-million plunge in cotton imports. Imports of sugar, fats and oils, dairy, cassava, and seafood were up. Imports of fruit, nuts and meat were down year-on-year.

Calculated from China Customs Administration data.

China's imports of Brazilian soybeans soared to 12 million metric tons in May as seasonal arrivals from South America ramped up and inspections at the border accelerated. The May soybean import volume was up almost 3-fold from April, and it exceeded the year-earlier volume by more than 3 million metric tons. Soybean imports from Brazil had been running behind year-earlier volumes during the first 4 months of 2025. Meanwhile, China's imports of U.S. soybeans tailed off to 1.6 million metric tons in May due to seasonal patterns, trade tensions, and tariff increases. Some of the U.S. soybeans might have arrived in April and cleared lengthy customs inspections during May.

China customs data; transgenic soybeans.


China customs data; transgenic soybeans.

China's cotton imports totaled 276,888 metric tons in May, down more than a million metric tons from 1.315 million metric tons in May 2024. China's cotton import from both Brazil and the U.S. were down sharply.

China's grain imports were sharply lower than year-earlier volumes, as they have been each month in 2025. The cumulative total of cereal grain imports for January-May 2025 is 10.15 million metric tons, down 66.6 percent from the same period last year. Corn imports so far this year are down 94 percent, and wheat imports are down 80 percent from the same period last year.

In May 2025, China imported 188,540 metric tons of corn, down from 990,000 metric tons from May last year. China's imports of Ukrainian corn were down $166 million (706,633 metric tons), while imports of U.S. corn were down $40 million (down 161,816 metric tons), and imports of Brazilian corn were down $7.6 million (down 28,814 metric tons). There were small year-on-year increases in China's purchases of corn from Russia, Kazakhstan, and Myanmar.

May 2025 imports of wheat reached 545,000 metric tons, down from 1.84 million metric tons a year ago. China reduced its imports of wheat from all its trading partners. Imports from the U.S. were down 361,000 metric tons from a year ago, and imports from France were down 617,773 metric tons. China had smaller decreases in wheat purchases from Canada, Australia, and Kazakhstan. 

China's May imports of sorghum were 379,000 metric tons, down from 671,000 metric tons a year ago. China slashed May purchases of U.S. sorghum by 526,157 metric tons from last year, partially offset by increases in sorghum purchases from Australia (up 231,2250 metric tons) and from Argentina (up 2,938 metric tons).

May poultry imports were down 25 percent by volume year-on-year and beef imports were down 17 percent, but pork imports were up 11.7 percent year-on-year.

China's May imports of U.S. beef were down $65.3 million from a year earlier, and imports of beef from Argentina were down $95.4 million. Its beef imports from Australia were up $63.3 million and beef imports from Brazil were up $16.1 million from year-earlier volumes. Imports of Uruguayan beef were down $10 million.

China's May imports of U.S. pork and offal were down $20.4 million from a year earlier. Pork imports from Brazil were also down $15.9 million, but pork and offal imports from Spain were up $29.5 million.

Comments

Max said…
"This is one of the most insightful blog posts I’ve come across on this topic."

supermarket display racks

Popular posts from this blog

Xi Jinping's Doctoral Thesis

Xi Jinping is the vice president and presumed next president of China but little is known about him. In this post the dimsums blog offers its contribution to the genre of Xi Jinping-ology by conveying Xi's decade-old views on agricultural markets. Ten years ago Xi Jinping wrote a thesis, "Tentative Study of Agricultural Marketization" (中国农村市场化研究) for a Doctor of Law degree at Tsinghua University in Beijing, a top breeding-ground for Chinese officials. The dimsums blogger has spent several hours poring over the 200-plus page tome to see what it reveals about Dr. Xi. The thesis is remarkably close to what China has been doing lately in agricultural policy, suggesting that Xi (or the person who actually wrote the thesis) has a major say in policy or is at least in agreement with what's being done. There is nothing adventurous, controversial (or insightful) in the thesis. It seems to be the work of a wonkish technocrat who is not prone to talk out of turn or wander from...

Divergence in U.S. & Chinese egg prices

High egg prices are a hot topic in the United States. China, in contrast, has a glut of eggs and depressed prices.  The March 14, 2025 USDA Agricultural Marketing Service weekly eggs market overview reported that U.S. egg prices continued declining during the second week of March as the supply situation improved. No significant highly pathogenic avian influenza (HPAI) outbreaks have occurred in March and U.S. egg demand is relatively light. The average U.S. wholesale price for Grade A large white eggs was $4.15 per dozen, down sharply from their February peak.  Until 2021, Chinese and U.S. wholesale egg prices had been roughly equal at about $1-to-$2 per dozen with no trend. U.S. prices fluctuated more than Chinese prices, so the U.S. price was sometimes higher, sometimes lower than the Chinese price after converting them to dollars per dozen.  Chinese prices converted using monthly exchange rate and assuming 0.6 kg per dozen. Sources: USDA and China Ministry of Agricult...

China's Corn & Wheat Imports Down 97% From Last Year

China's first customs data for 2025 feature a 97-percent decline in corn and wheat imports from a year earlier. Soybean imports were up slightly by volume (but down in value), and dairy, pork, poultry, and seafood imports rebounded year-on-year. Life was less sweet in China with a 93.7% decline in sugar imports, and drinking appears to be up as wine and beer imports posted gains.   China's agricultural imports for January-February 2025 were down 14.7 percent from a year earlier. The value of farm and food goods imported for the first two months of 2025 totaled $30.7 billion, down $5.26 billion from the same period in 2024. China's exports of agricultural products during January-February totaled $15.2 billion, up $393 million from a year earlier.  Data from China Customs Administration website. As usual, soybeans were the largest component of China's agricultural imports during January-February 2025 with a value of $6.3 billion. Meat imports were valued at $4.1 billion, ...