BEIJING: China's soybean imports fell 25% in June from the same month last year, according to Reuters calculations based on customs data on Friday, as the Sino-U.S. trade war and a severe outbreak of deadly African swine fever curb demand.
China brought in 6.52 million tonnes of soybeans in June, down from 8.7 million tonnes last year, according to Reuters calculations based on data from the General Administration of Customs. China brought in 7.36 million tonnes of soybeans in May.
While Chinese buyers last year scooped up Brazilian supplies in anticipation of hefty tariffs on U.S. cargoes, importers this year were better prepared with stocks. At the same time, swine fever has slashed pig numbers and cut demand for feed.