China can increase soybean imports from South America and the Black Sea region to reduce dependence on imports from the US. This was stated by the president of the state trading company of China COFCO on Wednesday, July 11.
It is also about replenishing the state reserve - a representative of the state grain operator Sinograin said that China can fully meet the demand for soybean to replenish the state reserve without importing raw materials from the US. According to him, it is possible to replenish the state reserve by importing soybeans from the countries of South America and the countries participating in the Chinese Silk Road Economic Belt Project.
It is possible that the reorientation to other markets will affect not only soybeans, but also rape, sunflower, soybean, rapeseed and sunflower meal, fish meal and meat.
However, this year China will still have to purchase a new tariff of about 15m tons of American soybeans due to the lack of today a sufficient number of alternative sources from other major exporters such as Brazil and Argentina.
Source: zol.ru.
