China for several months not buying beans in one of the largest suppliers – the United States.
China increased 9 Jan official forecasts of imports of soybeans for the current crop year to 87 million tons, 3 million tons more than previously predicted. These data are very encouraged by the global suppliers of soybeans, because China is the largest consumer of these legumes (62,8% of world imports by year-end 2017), and a few months did not buy soya from traditional supplier – USA? in connection with the trade disputes of the two largest economies in the world, informs Rus.Media.
The key sellers of soybeans to China is Brazil (52.8 per cent), USA (35.2%) and Argentina (6.8 per cent), Ukraine’s share in this segment is very small – only about 0.1%, however, due to the trade wars in our farmers an opportunity to increase its soybean exports to Eastern Dragon.
“Ukraine is the only manufacturer that over the last 5 years consistently stepping up the supply of soybeans in China. In connection with the weakening of relations between China and the United States for the opportunity for further export growth in this country, what can be done in the framework of the existing bilateral relations of Ukrainian companies with trading partners. However, most likely, your needs with the complication of relations with the United States, China will cover primarily at the expense of their largest trading partners – Brazil, Argentina, Uruguay, Canada and others,” – said the expert agricultural markets ASTP Association Daria Gritsenko.