Customs data show that China's April 2025 soybean imports were 6.08 million metric tons (mmt), down 29 percent from a year ago and the lowest April volume in years. This follows a March import volume of just 3.5 million metric tons. The low volumes reflect stringent customs inspections that slowed unloading of vessels already at Chinese ports.
China customs administration data |
The year-on-year decline in soybean imports occurred for both U.S. and Brazilian soybeans. Brazil typically becomes the dominant supplier in April. Customs data showed 4.6 mmt of Brazilian soybean imports and 1.38 mmt of U.S. soybean imports during April 2025. With the shift to Brazilian soybeans inspections have sped up this month and soybean crushers have ramped up operations. Soybean meal prices have dropped from near RMB 4000 in late April to just above RMB 3000 this week. Some feed mills are cutting feed prices due to the reduced cost of soybean meal. Soybean imports are expected to rebound to 12-to-13 mmt in coming months.
China's imports of cereal grains during April were under 2.3 mmt. This total was down 59 percent from a year earlier (a less precipitous decline than in the first 3 months of 2025).
China's April imports of corn were down sharply from a year ago, as they have been each month in 2025. April corn imports were 183,000 metric tons, down from 1.18 mmt last April. With corn imports cut to the bone, China's corn prices have climbed about 13 percent so far in 2025. Brazil supplied 81 percent of China's April corn imports. Russia supplied 6.8 percent, Ukraine supplied 5.5 percent, and the U.S. and Myanmar each supplied about 3 percent of corn imports.
China customs administration data. |
China's wheat imports rebounded in April but are also well behind last year's import volume. April wheat imports were 740,000 metric tons, down from 1.93 mmt a year earlier. The winter wheat harvest is about to begin. Severe drought conditions appear likely to reduce the wheat harvest, but wheat prices have only shown a tepid rise. Wheat imports came mainly from Canada (385,000 metric tons) and Australia (347,000 metric tons). Small amounts of wheat came from Kazakhstan and Russia.
China customs administration data. |
Sorghum imports were just under 200,000 metric tons in April, down from 808,000 metric tons a year earlier. Sorghum imports have been down from year-earlier volumes in each month so far in 2025.
China customs administration data. |
China cut back sharply on imports of U.S. sorghum in April and boosted imports from Australia and Argentina.
Barley imports were down from last year, but by a smaller margin than other grains. April barley imports were 1.15 mmt, down 1.61 mmt a year earlier. April barley imports came from Australia (820,700 metric tons) and Argentina (206,000 metric tons), Canada (64,000 metric tons), Kazakhstan (35,475 metric tons), Russia (20,000 metric tons), and Denmark (2,583 metric tons).
China customs administration data. |
China's imports of rice have been negligible so far in 2025.
No comments:
Post a Comment