China's November soybean purchases from the United States surged from a yea...
BEIJING - China’s November soybean purchases from the United States surged from a year earlier, data showed on Wednesday, as cargoes booked by importers with tariff-free quotas cleared customs.
China brought in 2.56 million tonnes of U.S. soybeans, up from zero a year ago and 1.147 million tonnes in October, after Beijing issued waivers to exempt importers from hefty tariffs for some American cargoes. China resumed buying U.S. cargoes after the countries agreed to a truce in their trade war in December last year.
Also in November, China brought in 3.86 million tonnes of soybeans from Brazil, down 24% from 5.07 million tonnes in the same month last year.Brazilian shipments were slightly up from last month’s 3.793 million tonnes, as buyers stocked up ahead of China’s Spring Festival holiday, a peak season for meat and oils.
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