News

China buys soy as a ransom in trade war

acd411cd0bc69851dfd772ac5683c988 - China buys soy as a ransom in trade war

Two Chinese state-owned enterprises have in the past days, each with a million tonnes of U.s. soy ordered. The orders are mainly considered to be a verzoeningsgebaar in the context of the trade negotiations between the two superpowers.

Both Cofco as Sinograin had to know ‘the past few days up to a million tonnes of U.s. soy to have ordered, to ” agree with consensus that the staatsleiders reached, in the implementation’.

Both companies refer probably to the armistice of 90 days in the trade war at the beginning of december, it was agreed between China and the US. Already then there was talk of extra landbouwbestellingen by China.

The American farmers, the united states exported in 2017, about a third of their soy to China, accounting for 14 billion dollar. But that output came in the summer of 2018 almost to a complete stop, when Beijing additional customs duties entered on all kinds of agricultural products from the U.S., including soy.

Last week, the US-China talks in Washington, which in retrospect by both countries as positive were considered. The Chinese delegation had already said that China is willing to import U.s. soybeans increase again.

The truce runs at the beginning of march.

Leave a Comment