Source: www.cnstock.com
According to statistical data from the customs, in the first three quarters of this year, China has accumulatively imported 28.70 million tons of bean, with a year-on-year growth (same in the following) of 32%, with a value of USD 17.5 billion, and growth of 1.4 times; the average import price is USD 609/ton, with a large-margin growth of 81.6%. The main features of import include:
I. Import volume in Sept. exceeds 4 million ton, the monthly import average price drops by small margin. In Sept., the bean import in China is 4.13 million ton, with a growth of 1.2 times; value USD 2.67 billion, with a growth of 2.8 times, the single-month import volume makes new high since last year. Meanwhile, since the 4th quarter of last year, the bean import price quickly rises, after reaching the high price of USD 664/ton in this August, it drops by a small margin to USD 646/ton in this September, with a year-on-year growth of 74.4%, and link relative ratio of small-margin drop of 74.4%.
II. The import of foreign-funded enterprises accounts for a half. In the first 3 quarters, foreign-funded enterprises import 16.24 million ton of bean, with a growth of 18.9%, accounting for 56.6% of total bean import volume in this period. In the same period, the state-owned enterprises have imported 7.979 million ton, with a growth of 68.5%, accounting for 27.8% of total import volume.
III. Brazil and US are main import source. In the first 3 quarters, China has imported 10.38 million ton of bean from Brazil, with a growth of 23.2%; imported 10.37 million ton of bean from US, with a growth of 26.2%; the total import volume from the two countries accounts for 72.3% of China’s total import volume in the same period. In addition, we have imported 7.473 million ton of bean from Argentina, with a growth of 54.2%, accounting for 26%.
IV. Over 90% is import in the way of general trade. In the first 3 quarters, China has imported 27.45 million ton of bean in the way of general trade, with a growth of 31.9%, accounting for 95.6% of bean import volume in the same period. In the same time, we have imported 407,000 ton of bean in the way of processing trade, with a drop of 12.3%.
In recent years, the import reliance in Chinese bean market has been always high, and international bean price and domestic market price are increasingly closely related. Due to the drop of present international sea freight, the average price of imported bean has been declined. By October 15, the freight from South America to China is USD 35/ton, dropped by around USD 1 per ton compared with the end of July.
So far, the drop of bean import price has pulled down the bean price on domestic market. After the long vacation of “National Day”, the future price of bean in Dalian has dropped for continuously trading days, and makes the new low of 3,174 yuan/ton on October 13. In order to guarantee the harvest and income increase of the peasant, promote crop and agricultural production, State Development and Reform Commission declares on October 20 to purchase the central government’s bean reserve with the price of 3,700 yuan/ton, this purchase price is 400 yuan higher than the bean future price on domestic market per ton. It worth attention that, planting cost and labor cost rises still influences the planting enthusiasm of the bean farmers.
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