Category Archives: soybeans

China imports zero U.S. soybeans in November – first time since trade war started.

December 25, 2018 By in soybeans, Uncategorized Tags: , , , , , Leave a comment
soya beans and milk

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According to Reuters, China imported zero U.S soybeans in November, the first time since the trade war started earlier this year. China is the world’s largest soybean buyer and according to Reuters, sourced soybeans from Brazil to replace U.S. soybean imports.

China imported 5.07 million tonnes of soybeans from Brazil in November whereas U.S. soybean imports dropped to only 67,000 tonnes in October (a sharp drop from the 4.7 million tonnes imported to China in November 2017).

Trade in soybeans totaled over $12 billion in 2017 when the U.S. was the second largest supplier of soybeans to China. U.S. soybean imports have a duty of 25%, the same percentage the Trump administration levied on over $200 billion in Chinese goods.

Check back for the latest news. If you have any questions on how to importing/exporting or how the China duties may impact your business – contact experienced trade and customs attorney David Hsu at 832.896.6288 or by email at dattorney.dave@yahoo.com.

China purchases additional 500,000 tons of U.S. soybeans.

December 13, 2018 By in soybeans, Uncategorized Tags: , , , , Leave a comment
milk in a glass

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According to CNBC – following the meeting between President Trump and President Jinping Xi earlier this month, Chinese state-owned companies purchased 500,000 tons of U.S. soybeans valued at $180 million.

While the purchase does help, CNBC reports that American farmers have only sold 8.2 million metric tons of soybeans to China this year, down from 21.4 million metric tons during the same period last year.

In addition to U.S. soybean farmers being impacted by the trade war, China is also facing a shortage of soybean supplies and it was reported that in September, Chinese officials considered cutting the soy ration for hogs.

Check back for more news as they become available.