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China slashed its imports of U.S. sorghum, soybean, and corn in September

China slashed its imports of U.S. sorghum, soybean, and corn in September

November 2, 2018
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China slashed its imports of U.S. sorghum, soybean, and corn in September

November 2, 2018
in Business, China, Economy, Featured, U.S. News
0
Home Economy Business
Post Views: 106

 

China imported 80 percent less U.S. sorghum in September and upped its Brazilian imports of soybeans by 28 percent, according to new data from China’s General Administration of Customs.

This is the first time that China has provided data on the country of origin for its commodity imports since the month of March.

China typically buys most of its soybeans in the fourth quarter from the United States but has sharply reduced its purchases of American beans amid an ongoing trade war.

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Beijing hit U.S. products including soybeans and grains with a 25 percent duty on July 6 in response to similar trade measures levied on Chinese goods.

China is the world’s top importer of the oilseed, which it crushes to turn into soymeal to feed its huge herd of livestock.

Chinese buyers imported 7.59 million tonnes of Brazilian soybeans in September, up from 5.94 million tonnes a year ago, according to data released on Thursday.

Brazil accounted for 95 percent of the total 8.01 million tonnes imported in September, compared with 73 percent at the same time last year.

Soybean imports from the U.S. were 132,248 tonnes, compared with 937,000 tonnes in September last year.

China’s grains shipments from the U.S. in September also slid significantly as the tariffs curbed buying, the data showed.

China’s September corn imports from the U.S. fell to only 515.7 tonnes, down from last year’s 174,965 tonnes, according to the data.

China brought in 59,455 tonnes of U.S. sorghum in September, down more than 80 percent from a year earlier.

Source :
nbcnews
Tags: BeijingChinacornImportssoybeanU.S. productsU.S. sorghum
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