China’s soybean imports in April fell to their lowest level in a decade, reaching just 6.08 million metric tons—a 29.1% drop compared to the same month last year. The decline stems from severe delays in customs clearance and postponed shipments from Brazil, largely caused by harvest and logistics disruptions. This bottleneck has significantly affected the oilseed processing sector, particularly from April through early May, resulting in tighter soymeal availability for China’s large livestock industry. The average transit time for soybean cargoes from ports to crushing facilities has more than doubled, now taking around 20 to 25 days instead of the typical 7 to 10 days, according to traders familiar with the matter.
Several crushing plants in northern and northeastern China were forced to reduce or halt operations due to the backlog, leading to supply shortages for feed mills. This situation compelled some operators to turn to the spot market, where soymeal is sold at a premium. Although there has been no official statement acknowledging these customs delays, they come at a time when geopolitical trade tensions remain high, especially with China’s second-largest soybean supplier.
The drop in imports is reflected in cumulative data from January to April, with total arrivals amounting to 23.19 million tons—down 14.6% from 27.15 million tons in the same period last year. The tightening supply situation triggered a temporary spike in soymeal futures prices on China’s Dalian exchange in late April, although prices have since eased with expectations of new shipments from Brazil.
Despite the recent disruptions, imports are projected to rebound in the coming months, with some analysts anticipating figures around 11 million tons for both May and June. However, Brazil’s grain exporters have indicated that total soybean exports may fall to 12.6 million tons in May, which could limit how much is available for shipment to China. Meanwhile, purchases from the United States continue to decline, with recent USDA data showing zero net soybean sales to China for the 2024/25 marketing year. The continuation of Beijing’s 125% retaliatory tariff on U.S. soybeans further complicates trade prospects, especially in the absence of a resolution before the upcoming marketing season. Attention now turns to a forthcoming diplomatic meeting in Switzerland, where hopes are pinned on progress regarding tariff reductions and renewed agricultural trade between the two countries.
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