China soybean imports reach record in 2024, Ukraine as latest supplier
China soybean imports reach record in 2024, Ukraine as latest supplier, China’s impact on global soybean markets, as always, the country’s surge in grains and oilseeds imports due to higher demand of domestic market.
Ukraine is a major producer of grain and other agricultural goods, the country is hoping to supply peas, poultry meat, animal feed and some other products to the Chinese market.
According to a report, Ukraine hopes to boost pea, poultry, and livestock feed exports, which provides the Chinese market a strong channel of supply in the later period. China seen as potential new customer. Look at this recent article from Reuters...
China imported 8.09 million metric tons of soybeans in October, as the world's top soybean buyer heads for its largest annual imports on record, reported Reuters.
October arrivals were the biggest for the month in four years, surging 56% from 5.18 million tons a year ago, according to Reuters' calculations of customs data released.
"The October soybean imports were 600,000 higher than our initial estimate," said Rosa Wang, analyst at Shanghai-based Agro-consultancy JCI.
The jump comes as crush margins in China's key processing hub of Rizhao improved from a loss of about 600 yuan ($83.72) per ton of soybean processed in August to a loss of 75 yuan ($10.47).
Total soy imports in the first 10 months of 2024 reached 89.94 million tons, up 11.2% year-on-year and close to last year's imports of 99.41 million tons, the customs data showed.
China imported 100.31 million tons of soy in 2020, its highest ever., .... See more from Reported here.
Meanwhile, due to Ukraine agricultural goods producing capacity, peas, poultry meat, animal feed are dominate agarin products, at this moment, the country is hoping to get some its key grain products to the Chinese market, This recent article from reported.
Ukraine is a major producer of grain, vegetable oils and other agricultural goods which dominate the country's exports.
Vadym Chaikovskyi, chief state phytosanitary inspector, said in a statement that the process had reached the stage of finalizing domestic approval in Ukraine.
Ukraine already exports corn, soybeans, barley, vegetable oil and sunflower meal to China.
In the 2023/24 July-June season, Ukraine exported 4.83 million metric tons of corn and 702,000 tons of barley to China, Ukrainian traders union UGA said.
Although at this moment, China soybean imports pushed up in 2024, it does not mean, in the coming years will keep the same pace. China agricultural products producing capacity is up grading, self -sufficiency is the new spirit that will revolutionize the entire domestic food supply.
In fact, for the first time, China is in the process on population declining, that will effect on domestic consumers’ food purchases in China, it is uncertain situation over China imports soyabean imports in the coming years, that is to say, China’s long-term demand for imported grain is not definite, it is to go, and see...
If you are an Overseas Feed Suppliers, or soybeans supplier or exporter to the Chinese market, there are important China Imports documents you should read in advance, they are GACC Decree 249, GACC Decree 248.
Regarding China sourcing sustainable farm products, it is important to know that the country takes nascent steps in 2024. For those overseas agricultural products exporters or feed export companies, China.org can help Overseas Suppliers succeed direct exporting to China with motivated Chinese importers.
