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In 2019, China plans to abolish import and export duties on a number of products, including import duties on alternative feeds, in order to guarantee the supply of raw materials despite trade tensions with states.
Import tariffs on alternative foods, including canola, cotton, sunflower and palm cakes, will be removed effective January 1, 2019, the Chinese Ministry of Finance announced. between China and the United States has shaken the global soybean market, which has virtually stopped importing American soybeans after imposing an additional 25% tariff. in July.
Although China has taken back some soybean orders in the United States, cereal tariffs remain in effect and tariffs are withdrawn
"This is essentially about preparing for rainy days because US purchases soybeans have not yet started and so far only the signatures Public companies have bought shares, "said Monica Tu, an badyst at Shanghai JC Intelligence.
"Although the volume of substitute food imports is still not significant, they can replace soybeans."
The United States is China's second largest soybean supplier. This product represented $ 12 billion in trade between the two countries in 2017.
China acquires soybeans for processing into animal feed and cooking oil. The country has, for example, the largest herd of pigs in the world.
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