China's soybean imports in the first two months of 2020 jumped 14.2% year-o...
BEIJING - China’s soybean imports in the first two months of 2020 jumped 14.2% year-on-year, official data showed on Saturday, as cargoes from the United States booked during a trade truce at the end of 2019 cleared customs.
Customs said last month it would combine preliminary trade data for January and February instead of releasing data for individual months. Early-year data in China is typically distorted by the week-long Lunar New Year holiday, while this year the coronavirus epidemic has also widely disrupted business.
China has already granted tariff exemptions to some crushers to import U.S. soybeans, Reuters reported on Friday. U.S. soybeans usually dominate the market in the fourth quarter and the early months of each year, when exports from the U.S. autumn harvest kick in.
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