Soybean imports in January and February hit new record

China imported a record 16.2 million tons of soybeans in the first two months of the year, according to data from the country’s customs agency. This is an increase of 16.1% compared to last year and the highest record in the first two months of any year.  

The average value of imported soybeans was 4,646 yuan per ton (~683 USD/ton) which was up 20.2% year on year.

Other commodity data included in the preliminary release include iron ore imports at 194 million tons, up 7.3% year on year, and coal imports of 60.6 million tons, up 70.8%.