China's March soybean imports fall 18pc

BEIJING, April 13 (Reuters): China imported fewer soybeans in March than a year earlier, customs data showed on Wednesday, as bad weather delayed exports from Brazil and poor crush margins curbed demand.
The world's top importer of soybeans brought in 6.35 million tonnes of the oilseed in March, down 18 per cent from 7.77 million tonnes in March 2021, General Administration of Customs data showed.
Arriving shipments in the first three months of the year were down 4.2 per cent from a year earlier, at 20.28 million tonnes, according to the data.
"Supplies were tight in March and the demand for soymeal was cut," said a manager with a major crusher in China.
"Soybeans this month are still tight. It is hard to say when the tightness will ease. It really depends on what the feed producers think," said the manager, referring to demand from the massive livestock sector.
Chinese prices of soybean meal rose from the beginning of the year to record highs late in March, as supplies of beans tightened after drought hit the crop in top supplier Brazil, delaying its harvest, though prices later fell from the peak.