On May 13, the Daily Economic News reported that from the National Grain Exchange news, after the study and decision of the relevant state departments, 500,000 tons of imported soybeans were auctioned at 13:30 on May 20, 2022.
China is the world’s largest soybean buyer, the annual demand for soybeans is about 100 million tons, 2021 China’s soybean imports of nearly 97 million tons, while domestic soybean production of about 16 million tons, accounting for only 17% of total soybean imports, according to customs data released on January 20, last December, Chinese buyers imported 2.12 million tons of soybeans from Brazil, an increase of 80% over the same period, but down 43% from 3.75 million tons in November 2021.
In 2021, China imported 2.342 million tons of cotton, with an import value of about RMB 26.7 billion.
In 2021, 5.666 million tons of sugar will be imported for about RMB 14.5 billion.
In 2021, the amount of imported vegetables is about RMB 7.6 billion.
In 2021, the total amount of imported fruits is about RMB 92.5 billion.
In 2021, the total amount of imported livestock products is about RMB 333.3 billion
In 2021, the total amount of imported various aquatic products will be about RMB 114.7 billion.
Soybeans in China are mainly imported from Brazil, the U.S. and Argentina. The total amount of soybeans imported from these three countries in 2021 is 94.2 million tons, which accounts for 97.6% of China’s Soybean imports in 2021.
Since February 24, the conflict between Russia and Ukraine, the world’s two major grain and oil exporters, has disrupted the global agricultural supply chain, Russia and Ukraine’s grain exports accounted for about one-third of the total global exports.
The escalation of the situation in Russia and Ukraine may cause the international grain market supply drop and drive up global food prices, and later affect further higher prices of soybean oil and soybean meal in the Chinese market, and as the Brazilian soybean spot premium climbs, Chinese buyers cancel some Brazilian shipments and turn to buy soybeans from the United States, Argentina Russia and other countries.
The CCP’s Customs Service has allowed Chinese agricultural buyers to import grains from all over Russia, which is extremely important for Russian producers and exporters, so in 2022-2023, Russian agribusinesses will start exporting grain to the China market on a large scale. According to the press service of the Ministry of Agriculture of Russia’s Trans-Baikal Territory, a railroad staging area for grain exports to China is planned to open in the village of Zabaikalsk in 2022, and the volume of grain, beans and oil crops in transit is expected to reach 8 million tons per year, and in 2021 the country spent a total of $53.539 billion (about $345.9 billion at the then-current exchange rate) to import 96.52 million tons of soybeans. In 2021, grain imports were 65.376 million tons, with imports amounting to about RMB 27.8 billion.
The soybean, is an essential cooking oil on the Chinese table, with the spread of CCP virus truth and the poison vaccine incident, the CCP will be besieged and sanctioned by the whole world, there will be a hundred times more than current Russia now, and the various channels of grain import in the CCP will be closed, and the grain shortage is coming.