China trade: North Korea’s Chinese soybean imports surge as coronavirus outbreak ramps up food shortage fears
- North Korea spent US$2.97 million on 3,744 tonnes of Chinese soybeans last month, the second largest amount imported in a month since 2017
- Overall, China’s exports to North Korea slumped by 85.2 per cent to US$14.51 million in May from US$98.1 million in April
North Korea bought a large volume of soybeans from China in May even though overall imports from its neighbour slumped more than 80 per cent from the previous month, trade data from Beijing showed, amid suspicion the reclusive state is suffering food shortages as it fights a coronavirus outbreak.
North Korea spent US$2.97 million on 3,744 tonnes of Chinese soybeans last month, the second largest monthly amount since 2017, Chinese customs data showed.
The country imported just 500 tonnes of soybeans from China in the first four months of 2022.
North Korea is facing a potentially dire food situation this year, which has been exacerbated by trade disruptions caused by the pandemic.
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The CIA estimated last month North Korea’s food shortages were roughly 860,000 tonnes – equivalent to two to three months of food for the country.
