Iran was the biggest importer of US soyabeans in the same month, shipping 414,000 tons and making up around 13% of total US exports of the oilseed for the month, according to a report by BIMCO. In contrast, exports to China in August fell 95% YoY, with just 67,000 tons exported amid a Sino-US trade dispute. Additionally, on 1 November, a bulk carrier with 56,951 metric tonnes of soyabeans departed the US Pacific Northwest for Iran for a second straight week. US President Donald Trump reimposed sanctions on Iran on 5 November.
Iran was the biggest importer of US soyabeans in August, shipping 414,000 tons and making up around 13% of total US exports of the oilseed for the month, according to a report by BIMCO. In contrast, exports to China in the same month fell 95% YoY, with just 67,000 tons exported amid a Sino-US trade dispute. Additionally, on 1 November, a bulk carrier with 56,951 metric tonnes of soyabeans departed the US Pacific Northwest for Iran for a second straight week. US President Donald Trump reimposed sanctions on Iran on 5 November.