Abundant domestic supplies as well as ample global offers result in a 38% reduction in imports in January and is expected to further diminish in February.

Chinese soy imports plummeted in January and prices continue to fall to the lowest levels since 2007 in the local market. China’s official government figures show that the country sought 5,66 million tons last month which is a 38 percent decrease since December.

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According to Commerzbank, the sharp fall in imports in January “can be partly explained by the high volume recorded in December” when Chinese purchases of soybeans reached 9.12 million tons, the second highest level ever recorded.

Original Article in Portuguese: http://m.gazetadopovo.com.br/agronegocio/agricultura/soja/apos-pico-em-dezembro-china-compra-menos-soja-em-2016-cevq652k2jbjynyjl3cucsron