China's soybean imports reached a record high in 2025, primarily driven by Chinese buyers significantly increasing purchases of South American soybeans amid concerns that the ongoing U.S.-China trade war would lead to supply shortages.
Data released by the General Administration of Customs on Wednesday showed China imported 111.83 million tons of soybeans in 2025, a 6.5% increase from 2024.
December soybean imports totaled 8.04 million tons, down 0.9% month-on-month but up 1.3% year-on-year. This marked the third consecutive month China did not import soybeans from the United States.
One analyst noted that concentrated shipments from major producers including Brazil and Argentina drove substantial growth in China's imports during the first half of the year, propelling annual imports to a record high. This surge resulted from heightened import uncertainties following the escalation of the Sino-US trade war in the second and third quarters, prompting Chinese buyers to preemptively stockpile large volumes of South American soybeans.
Another analyst stated that China's December soybean imports largely met market expectations. Delays in customs clearance slowed import pace, causing some crushers to suspend operations or reduce deliveries due to supply shortages. Analysts anticipate January imports will drop to 7.48 million tons, with a further decline to 5.2 million tons in February.
Looking back at 2025, China's soybean imports hit consecutive record highs from May to October as buyers scrambled for South American soybeans amid the U.S.-China tariff war; elevated tariffs prompted buyers to avoid U.S. soybeans.
Since the U.S.-China leaders met in South Korea in late October and reached a trade truce agreement, China has resumed purchasing U.S. soybeans. Analysts indicate that as of early this week, China has purchased nearly 10 million metric tons of U.S. soybeans for the 2025/26 crop year, representing over 80% of the 12 million metric ton target set by U.S. Treasury Secretary Steven Mnuchin for purchases by the end of February.
Since December, the State Reserve Corporation has held four auctions for imported soybeans from the national reserve, aiming to free up storage space for U.S. soybean shipments arriving in the coming weeks.
As an integrated internet platform providing benchmark prices, on January 20th, the SunSirs' benchmark price for soybeans was 4468.00 RMB/ton, an increase of 1.18% compared to the beginning of the month (4416.00 RMB /ton).
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