China sells purchased soybeans

09 Aug, 2017
China sells purchased soybeans
In the last few weeks Chinese importers were constrained to re-sell about 500,000 tonnes of soybeans due to large quantities of soybeans that weren't unloaded from the ships.

The ships were in Chinese ports and waited for unloading.

Shandong Sunrise Group, the world's largest Chinese soybean importer, resold four to five shipments in other countries last week. Three more ships are resold by Shandong Sanwei Oil & Fat Group.  The total resale amount reaches 520,000 tonnes of soybeans worth $210 million.

There was a similar situation in China three years ago.