China Livestock Market Drives Soybean Meal Imports
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China is the largest importer of Soybean, which is usually crushed domestically. Recently, however, China saw its Soybean Meal imports increase in an effort to increase its stocks, reduce input costs, and increase the pork margins. By Feb 22, the Brazil Soybean crop was out, and China Soybean Meal imports increased by 126 kmt YoY. From Mar to May, China Soybean Meal imports started ramping up, peaking in Mar with a 264 kmt increase YoY. Despite Soybean imports picking up again in Jun, Soybean Meal imports remained strong. Overall, China imported 1.06 Mmt of Soybean in the first half of 2022, more than three times that of 2021.
2022 China Soybean Meal Imports
Track Soybean Complex Cargos to China From Brazil, Argentina, & 4 Other Origins
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