Argentina expects to export significant amounts of soymeal to Chinastarting after the next harvest in May, as the South American grains powerhouse moves to take advantage of U.S.-China trade conflict, Reuters news reports, citing a top agriculture ministry official.
Argentina has long been the world’s top exporter of soymeal for livestock feed. In June China placed tariffs on imports of U.S. soybeans in retaliation for tariffs announced by the Trump Administration. The trade dispute may leave the massive Asian market open to new suppliers of soymeal needed to feed the livestock for meat products demanded by the country’s growing middle class.
“If the U.S. shifts away from exporting soymeal to China, that’s an opportunity,” Argentine Ministry Chief Santiago del Solar said. The minister also downplayed worry that the United States will elbow Argentina out of its traditional soymeal markets like the European Union, Vietnam and Indonesia.
Source: CNBC
