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China's imports of US soybeans surge in October

Published : Thursday, 26 November, 2020 at 12:00 AM  Count : 121

BEIJING, Nov 24: Chinese imports of US soybeans surged almost three-fold in October on a year-on-year basis, customs data showed on Wednesday, as cargoes booked following a Phase 1 trade deal between the United States and China arrived in the country.
The world's top buyer of soybeans, brought in 3.4 million tonnes of the oilseed from the United States in October, up 196.4per cent from 1.147 million tonnes a year ago, data from the General Administration of Customs showed.
Chinese buyers stepped up purchases of US farm produce including soybeans earlier this year, partly to fulfil commitments made in a January deal aimed at tempering the trade war between the world's two largest economies.    -Reuters

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