News
China's soybean imports fall 3.8% in 2021 as crush margins drop
Release Time:
2022-09-25 21:25
January 16 news: China's soybean imports in 2021 fell by 3.8% year-on-year, customs data showed, the first annual decline since 2018, as crushing profits fell and demand weakened.
From January to December 2021, China imported 96.52 million tons of soybeans, down from 100.33 million tons in 2020. China's soybean imports in 2020 are also the highest on record, as the domestic hog stock recovers rapidly from the African swine fever epidemic, helping to boost feed demand and prompting crushers to expand purchases. However, the oversupply of live pigs has led to continued low prices this year, and the profit of breeding has turned into a loss, which in turn affects the demand for soybean meal in the pig industry and feed mills. In June, the loss of live pig farming hit a record low of 650 yuan per ton.
China's soybean imports in December 2021 were 8.87 million tons, a 3.5% increase from November's 8.57 million tons and a 17.9% increase from November 2020's 7.524 million tons.
Soybean imports in September and October this year were very low. China's soybean imports in September were 6.88 million tons, a year-on-year decrease of 30%; while October's imports were only 5.11 million tons, a year-on-year decrease of 41.2%, also the lowest level since March 2020. The reason for the decline in imports is that the small profit of the large domestic crush has slowed down the demand of oil mills, and Hurricane Ida in late August caused the operation of export facilities in the US Gulf to be interrupted for several weeks, which also restricted US soybean exports to China. Soybean planting in Brazil is progressing smoothly this year, and the outlook for new soybean production is optimistic, which also prompted many buyers to wait for the new Brazilian soybeans to be launched.
Relevant Information
09-26
National Grain and Oil Information Center
State Grain and Oil Information Center reported on January 12: On January 11, soybean oil futures prices on the Dalian Commodity Exchange fell, with the main contract closing down 0.52% to 9,114 yuan/ton. The market price of first-class soybean oil in coastal areas is 9,740-10,080 yuan/ton, down 40-100 yuan/ton from the previous day. Among them, the quotation in North China is 9740-9760 yuan/ton, the quotation in East China is 9780-9970 yuan/ton, and the quotation in South China is 9950-10080 yuan/ton. Recently, the price of soybean oil fluctuated strongly, and downstream buyers were more active in purchasing, and the transaction was acceptable.
09-26
Thai rice export prices largely stable over the past month
Prices for most finished rice in Thailand have remained largely stable over the past month, according to the U.S. Department of Agriculture's January Rice Market Outlook report. The baht was slightly stronger, offsetting weaker demand during the holiday season.
09-26
The pattern of soaring grain prices in the first half of the year is still difficult to change
On January 17, data released by the National Bureau of Statistics showed that my country's total grain output last year was 682.85 million tons, an increase of 13.36 million tons or 2.0% over the previous year. In terms of varieties, the output of paddy was 212.84 million tons, an increase of 0.5%; the output of wheat was 136.95 million tons, an increase of 2.0%; the output of corn was 272.55 million tons, an increase of 4.6%; the output of soybean was 16.4 million tons, a decrease of 16.4%.
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