China's Ministry of Agriculture and Rural Affairs has said it will increase soyabean plantings, targeting a reduction in import volumes for Q1 2019, despite agreeing to increase US imports of the oilseed. China is the world's top soybean buyer, but the purchasing volume was decreased last year as the buyers shunned US soybeans amid the ongoing trade war between China and the US. The ministry also announced that China would boost soybean production by about 1 million tonnes this year, up from last year's 1.05 million. In January alone, the country imported 7.38 million tons, a 30% increase from the month before, but below the 8.48 million tons imported the previous year.
China's Ministry of Agriculture and Rural Affairs has said it will increase soyabean plantings, targeting a reduction in import volumes for Q1 2019, despite agreeing to increase US imports of the oilseed. The ministry also announced that China would boost soybean production by about 1 million tonnes this year, up from last year's 1.05 million. In January alone, the country imported 7.38 million tons, a 30% increase from the month before, but below the 8.48 million tons imported the previous year.