China's share in American soybean imports has dropped to a 17-year low, with Brazil becoming the main supplier in 2024.
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China's share in American soybean imports has dropped to a 17-year low, with Brazil becoming the main supplier in 2024.

In 2024, China increased imports of Brazilian soy by 6.7%, while decreasing American soy by 5.7%. China's share in the global soy imports reached 105.03 million tons, reducing dependence on the USA to 21%.

As for Argentina, its exports doubled.

28 January 2025 28 January 2025

According to experts from Reuters, only 47% of current soybean sales in the US are accounted for by China. This is the lowest level in the past 17 years, excluding the period of the trade war.

In 2024, the volume of Chinese soybean imports from the US decreased by 5.7% compared to the previous year, amounting to 22.13 million tons. This was due to concerns about the resumption of the trade war between China and the US, which only exacerbated the situation.

Brazil became the main supplier of soybeans to China in 2024, increasing its share of imports by 6.7% to 74.65 million tons. The share of Brazilian beans in the main soybean importing market is 71%, while the share of beans from the US has decreased to 21%. Soybean imports from Argentina more than doubled, reaching 4.1 million tons in 2024 compared to 1.95 million tons in 2023.

Overall, China imported a record 105.03 million tons of soybeans in 2024, according to data from the General Administration of Customs.

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