Ministry of Agriculture and Rural Affairs of China: Imports of soybeans from the United States are expected to continue to increase
China News Service, Beijing, August 26 (Reporter Chen Su) Tang Ke, Director of the Department of Market and Information Technology of the Ministry of Agriculture and Rural Affairs of China, stated on the 26th that China's imports of soybeans from the United States are expected to continue to increase.
China is a major soybean importer. Will the global new crown pneumonia epidemic affect China's soybean imports this year? At the press conference of the Ministry of Agriculture and Rural Affairs that day, Tang Ke responded to this question.
He said that China's imports of soybeans are mainly used for oil extraction to meet domestic edible vegetable oil and soybean meal feed needs. The main importing countries are Brazil, the United States, and Argentina. Since the beginning of this year, the global spread of the new crown pneumonia epidemic has objectively restrained the demand for soybeans, and the low oil price has suppressed the demand for biomass fuels. Therefore, the global supply and demand of soybeans are loose. The international soybean market prices are generally stable, which objectively benefits Chinese soybeans. import.
From the data point of view, China's soybean imports have increased since the beginning of this year, and prices have risen slightly. According to customs statistics, from January to July, China imported 55.14 million tons of soybeans, an increase of 17.6% year-on-year. In July, imports of soybeans were 10.09 million tons, an increase of 16.8% year-on-year. In July, the after-tax price of imported soybeans in Shandong was 1.62 yuan per catty (RMB, the same below), up 1.6% month-on-month and 2.5% year-on-year.
Tang Ke said that from the perspective of the later trend, North American soybeans have been listed in high yields. With the implementation of the first phase of the Sino-US economic and trade agreement, imports of soybeans from the United States are expected to continue to increase. It is expected that China's soybean imports will increase in price in the second half of the year. It is guaranteed.
From the perspective of domestic soybeans, Tang Ke said that this year, driven by strong edible demand, domestic soybean prices continued to improve. In July, the average purchase price of domestic edible soybeans in Heilongjiang was 2.75 yuan per catty, an increase of 8.2% month-on-month and 51.2% year-on-year. In the later period, with the State Reserve auctioning soybeans to supply the market one after another, coupled with the upcoming launch of new soybeans, the market supply continues to increase, and domestic soybean prices are expected to fall from high levels. (Finish)