Restituita stringa vuota

Panorama Internazionale

28 SETTEMBRE 2018

18:16 - Argentina

CHINA TO START BUYING MORE ARGENTINE SOYBEANS DUE TO TRADE WAR WITH THE US

(ICE) - ROMA, 28 SET -

China is starting to buy more Argentine soybeans because of China´s trade war with the United States, and Argentina will in turn purchase more U.S. soybeans to meet its own needs, oilseeds analysts Oil World said. Soybean exports from the United States to China have come to a virtual stop since July when Beijing imposed heavy tariffs on U.S. imports as part of a trade war between the two countries.

China has transferred much of its soybean purchases from the United States to Brazil, but tightening Brazilian supplies mean Chinese buying is now starting to transfer to Argentina. In September, Argentina is expected to export approximately 100,000 tonnes of soybeans to China and may reach 1.8 million tonnes between September 2018 and February 2019 against none a year ago.

This means China would dominate Argentina's September 2018-February 2019 soybean exports, which were expected to total 1.90 million tonnes against 1.77 million tonnes in the same year ago-period, Oil World said.

Over the near term, strong Chinese demand could force Argentine domestic crushers to export their expensive local beans to China and import cheaper supplies from the United States. And recently, they booked 3-4 cargoes of U.S. soybeans while shipping their own local supplies off to Chinese buyers.

(ICE BUENOS AIRES)