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China Jul Argentinean soybeans import up a few times
27.08.2019 22:07 "Agro Perspectiva" (Kyiv) —
China, due to its trade tensions with US, is presently boosting the Argentinean soybeans import, Zerno On-Line says referring to the Reuters report.
Thus, as of this year Jul, China has grown the Argentinean soybeans import to 1.07 million tons (up 328% against this year Jun/up 269% as of last year Jul).
In meanwhile, at same time, as of this year Jul, China has boosted the Brazilian soybeans import to 6.42 million tons (up 17% against this year Jun).
It is to be admitted, before the China/US trade conflict beginning, the US soybeans shared the largest part of the China total soybeans import: thus, as of 2017, the US soybeans shared 34% (or 33 million tons) of the China total soybeans domestic consumption.
However, as of 2018, China imposed a 25% duty on the US soybeans import in response to restrictions on Chinese goods’ export to the US. As a result, the China/US trade has declined sharply. At the same time, China has boosted the soybeans import from other countries (in part., from Brazil and Argentina).
It is to be admitted, as of 2018, the US soybeans import to China dropped to 16 million tons (18% of the China total soybeans domestic consumption). At same time, as of 2018, Brazilian share of the China soybeans import boosted to 23% (or 51 million tons).
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