On August 26, Tang Ke, Director of the Department of Market and Information Technology of the Ministry of Agriculture and Rural Affairs, said that with the implementation of the first phase of the Sino-US eco
nomic and trade agreement, soybean im
ports from the United States are expected to co
ntinue increasing. China's soybean im
ports are expected in the second half of the year. Steady price increase.
On the morning of the 26th, the Ministry of Agriculture and Rural Affairs held a press co
nference on the current grain market operation and production. A reporter asked: China is a big soybean im
porter. Will Chinese soybean im
port this year have been greatly affected by the COVID-19 epidemic? How is the domestic soybean market trend?
Tang Ke respo
nded that Chinese im
ported soybeans are mainly used for oil extraction to meet domestic demand for edible vegetable oil and soybean meal feed. The main im
porting countries are Brazil, the United States, and Argentina. Since the beginning of this year, the global spread of the COVID-19 epidemic has objectively suppressed 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 internatio
nal soybean market prices are generally stable, which objectively benefits China's soybeans. im
port.
Tang Ke pointed out that from the data, Chinese soybean im
ports have increased since the beginning of this year, and the current price has risen slightly. According to customs statistics, from January to July, China im
ported 55.14 million tons of soybeans, an increase of 17.6% year-on-year, of which 10.09 million tons of soybeans were im
ported in July, an increase of 16.8% year-on-year. In July, the after-tax price of im
ported soybeans in Shandong was 1.62 yuan per catty, an increase of 1.6% month-on-mo
nth and 2.5% year-on-year. From the perspective of domestic soybeans, the price of domestic soybeans co
ntinued to improve this year, driven by strong food demand. According to monitoring, the average purchase price of domestic edible soybeans in Heilo
ngjiang in July was 2.75 yuan per catty, a month-on-mo
nth increase of 8.2% and a year-on-year increase of 51.2%.
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