Soybean exports to China increased 269% in July

Argentine soybean exports to China rose 269% from one year to the next in July, due to the relocation of the origin of imports by the Asian country as a result of the trade war with the United States, reported the Rosario Stock Exchange (BCR).

Thus, soybean shipments to China reached in the seventh month of the year 1.07 million tonnes, which meant at the same time an increase of 328% compared to June.

This increase is the result of a "strong offshoring of the origin of Chinese soybean imports, significantly reducing the volume imported from the United States, because of customs duties imposed reciprocally, "he said. Télam.

At the end of last week, China imposed new tariffs on products of origin USD 75,000 million, including soybean, for which the Asian giant, the largest importer of cereals, has increased by five percentage points to 30%.

This has resulted in US soybean exports, which was previously the largest supplier to the Chinese market, they will fall to this destiny considerably and will total 910,000 tonnes.

Thus, despite the decline in the demand for beans from the world's second-largest power, due to the swine flu epidemic that has reduced its pork production, it has "greatly increased its imports from Brazil (6, 42 million tonnes exported in July) and other countries, like Argentina to a lesser extent ".

However, they stressed to the stock market that there was "no evidence of a significant take-off" of total Argentine soybean exports. "Contrary to what happens with the products derived from its industrialization, the external sales (deliveries) of beans are considerably behind the average of the last five years, until in July, exports reached 4, 25 million tons, nearly a million tonnes less than the average of the last five years ".