China, the world’s biggest soybean importer, almost tripled purchases from Russia amid a trade dispute with the U.S., the biggest producer.
Russia sold about 850,000 metric tons of soybeans to China from the start of the 12-month season in July through mid-May, according to Russia’s agriculture agency Rosselkhoznadzor.
That’s more than during any season before and compares with about 340,000 tons sold during all of the previous period, Chinese customs data show.
Russian supplies make up less than 1 percent of the 97 million tons of soybeans that China is set to buy overseas this season, U.S. government data show.
Russia is a net importer of the oilseed, the data show.