[Beijing 25th Reuters]-According to Chinese customs statistics, soybean imports from the US in August were 6 times higher than the same month last year. The background is the completion of customs clearance for purchases when trade friction is improving.
According to an announcement by the Department of Customs, the import volume from the United States in August was 1.68 million tons, a sharp increase from 265,377 tons in the previous year. It increased by 84% from 911,888 tons of the previous month.
US soybean imports dropped sharply in the second half of 2018, following the Chinese government's 25% surcharge on imports from rice, including soybeans, last July.
However, in December when the truce ended, Chinese state-owned enterprises resumed buying about 14 million tons of oil seeds from the United States.
After that, purchases decreased with increasing trade friction. In preparation for next month's US-China trade talks, there were two large-scale purchases this month.