Sustained demand drives US soybean trade

Productive farmland: A harvester works on a farm near Allerton, Illinois. China’s soybean imports, including those from the United States, are expected to rise from 101.5 million tonnes to 134.1 million tonnes in 2033, an average annual growth rate of 3.1%. — AP

SHANGHAI: China is likely to import 30 million tonnes of soybeans from the United States in the latter part of the 2024 marketing year (Sept 1, 2023 to Aug 31, 2024), matching the amount imported in the previous marketing year, the US Soybean Export Council (USSEC) predicts.

Zhang Xiaoping, the USSEC’s country director for China, said that China has already imported 20 million tonnes of US soybeans so far for the 2024 marketing year.