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China imported more U.S. soybeans in April, thanks to earlier easing of trade tensions between China and the United States. Brazilian soybeans imported from China surged during the same period, after buyers delayed shipments of March orders as much as possible to enjoy tax breaks for agricultural products.
China is the world's largest soybean importer. According to data released by the General Administration of Customs on Saturday, China imported 1.75 million tons of soybean from the United States in April, up 15.9% from 1.51 million tons in March.
The United States is China's second largest supplier of soybeans, but since China imposed a 25% tariff on U.S. soybeans last July, China's soybean imports from the United States have fallen to almost zero.
Soybean imports were limited to resume after the two countries agreed on a temporary cease-fire in the trade war on December 1. Since then, China has purchased about 14 million tons of U.S. soybeans.
But another 6 million tons of anticipated purchases could change as U.S. -China trade relations stalled earlier this month.
April's figures are before the escalation of the trade war between the United States and China this month.
Customs data also show that China purchased 5.79 million tons of soybeans from Brazil in April, more than double the 2.79 million tons purchased in March.
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