China soybean import shrank sharply on trade war, deadly pig swine fever

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China soybean import shrank sharply on trade war, deadly pig swine fever

On Friday, the 12th of July 2019, China customs’ data had revealed that the nation’s soybean import was curbed by more than eleven percent in June from a month earlier, while analysts were accusing an escalated Sino-US trade spat entering into its second year alongside a deadly breakout of African Swine fever crashing down China’s pig market.

According to Friday’s (July 12th) data from the General Administration of Customs, China had imported about 6.51 million tons of soybeans last month, 11.5 percent down from 7.36 million tons in May, while during the first six months of the year, China imported about 38.27 million tons of soybean, 14.7 percent down on a year-on-year basis.

Besides, on a year-on-year basis, China’s soybean import was down by more than 20 percent, as China had brought in approximately 8.7 million tons of soybean in June, 2018. Although, Chinese soybean buyers had prepared its Brazilian soybean retailers following Trump’s added China tariff, an outbreak of a deadly African Swine Fever had downsized Chinese pig herds, meanwhile curbing the demand of pig feeds.

Beijing had reported more than 140 outbreaks of African Swine Fever since it first detected the presence of asfarviridae virus in Asia on August, 2018. Referring to an escalated Sino-US trade spat that had rattled global supply chains and toiled trillions alongside a breakout of African Swine Fever causing mass-scale casualties on China’s pig meat market, an analyst with Zheshang Futures, Xiang Bo, said before the release of Friday’s (July 12th) customs’ data, “The June figures were expected to be lower than last year due to the trade war and African swine fever”. In point of fact, a deadly outbreak of African Swine Fever in China had killed more than a million of pigs so far.