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Supply for feed troughs

China wants to buy soy flour from Argentina

13-Sep-2019

Bild von Jing auf Pixabay

In view of the ongoing trade conflict between Washington and Beijing, China is looking for new soya suppliers for its meat industry. With an agreement signed on Wednesday, the world's second largest economy opens its market for soybean flour from Argentina.

The agricultural industry of the South American country expects annual exports of five million tons for 1.6 billion dollars (1.45 billion euros) to China, as the newspaper "La Nación" reported.

Soy exports from the USA to China had already fallen by half last year due to reciprocal punitive tariffs. Beijing is now looking for new suppliers to fill the feed troughs of more than 500 million pigs and cattle in China. The trade dispute with the United States may have contributed to the conclusion of negotiations between China and Argentina that have been going on for 20 years.

Soy is mainly used as pet food. In recent years, millions of Chinese have risen to the middle class and can now afford meat. The Chinese themselves are growing less and less soy because imports are much cheaper. Since 2000, the area under cultivation has declined by around 25 percent.

Argentina is the world's largest exporter of soybean flour, with expected exports of 26 million tonnes this year. China processes over 70 million tons of soy flour annually as pig and cattle feed. Most soy imports so far come from Brazil./jg/DP/jsl (dpa)

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

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