Worldwide

China's June soya imports from United States fall 2.5 percent

China's June soya imports from United States fall 2.5 percent”

The United States was the second-largest supplier of soyabeans to China before the trade war, but imports from the country fell sharply after Beijing slapped tariffs of 25% on USA cargoes. These shipments reflect purchases made earlier this year, and the USDA is expected to release new data this week. Presidents Donald Trump and Xi Jinping agreed to a truce in late June, and the Chinese government last week is said to have approved five companies to buy some US soybeans free of retaliatory import tariffs as a goodwill gesture.

Chinese companies have made inquiries about buying USA soybeans, cotton, pork, sorghum and will continue to purchase US agricultural goods if prices and quality remain reasonable, Chinese official broadcaster CCTV said on Sunday.

He did say he expected the Chinese to follow through with "large-scale purchases of US agriculture products and services", on CNBC television. "So the process won't be that quick".

The soy shipments were part of a series of about 14 million tonnes in goodwill purchases made by Chinese state-owned firms before trade talks broke down in May, U.S. traders and analysts said.

CCTV said the moves show China's willingness to promote US products and make good on a consensus reached between presidents Donald Trump and Xi Jinping at the G20 summit in Osaka in June.

White House economic adviser Larry Kudlow said on Friday he "wouldn't expect any grand deal", at the meeting in Shanghai and negotiators would try to "reset the stage" to bring the talks back to where they were before the May blow-up.

China brought in 614,805 tonnes of soybeans from the United States in June, down 2.5 per cent from June 2018 and down 37 per cent from 977,024 tonnes in May, customs data released last Saturday showed.

China's soyabean imports from the United States fell 2.5% in June compared with the same month a year earlier, customs data showed on Saturday, as renewed trade tensions between Beijing and Washington curbed buying.

China's demand for soybeans crushed into livestock feed has also decreased dramatically in recent months as African Swine Fever swept across the country, resulting in the death or culling of millions of pigs. Agriculture Secretary Sonny Perdue said last week he had expected China to ship some 20 million tonnes of soybeans, without specifying a time frame, noting the Chinese "still have a ways to go".

For the whole of 2018, China imported 16.6 million tonnes of soybeans from the United States - about half of 2017's 32.9 million tonnes - as the tariffs on American cargoes cut into buying.

"For the United States, even through there are some bilateral trade frictions, it can not stop USA firms from attaching importance to the Chinese market and their great enthusiasm for the Chinese market", Ren told a news conference.



Like this

loading...
loading...

Latest


29 July 2019
At least 20 killed in Afghanistan in attack targeting VP candidate
Nasrat Rahimi, a spokesman for the Ministry of Interior said the attack killed 20 people and wounded at least 70 others. The surge in attacks in Kabul comes amid the start of the presidential election campaign and the ongoing peace process.

29 July 2019
Doctor says Russian opposition leader Alexei Navalny may have been poisoned
In another post on July 29, she accused doctors at the hospital of failing to investigate what had caused Navalny's illness. Later, she wrote that she had received word that she would be allowed to visit Navalny and examine him on Monday.

29 July 2019
Virat Kohli Finally Speaks On His Alleged Rift With Rohit Sharma
Meanwhile, after Rohit unfollowed Anushka, the actress came up with a post, which read, "A wise man once said nothing. I don't know who is benefitting from all of these, we are living here to get Indian cricket to the top.

29 July 2019
Tesla to Soon Get Netflix, YouTube Streaming Support: Elon Musk
He also went on to add that it has an "amazingly immersive, cinematic feel due to the comfy seats & surround sound audio". Musk talked about Tesla's gaming and entertainment plans in June during the annual video games industry trade show, E3.

29 July 2019
Tips pour in as manhunt wears on for BC murder suspects
Edgar Moose, a security guard at the York Landing Nursing Station, says local authorities are keeping the reserve "locked down". Over the weekend, officers door knocked in Gillam , where the teens last known getaway was found torched in dense bushland.

29 July 2019
Harris announces her plan for Medicare-for-all
Instead, Harris proposes to "tax Wall Street stock trades at 0.2%, bond trades at 0.1%, and derivative transactions at 0.002%". Bernie Sanders' "Medicare for All" bill, along with several other 2020 candidates, when it was released in 2017.

29 July 2019
Former Manchester United defender announces his retirement
Evra made his name with Nice and Monaco before Alex Ferguson signed him for Manchester United in 2006. The 38-year-old made the announcement during an interview with Gazzetta dello Sport on Monday.

29 July 2019
Sydney expands contactless payments to buses
The new addition follows the rollout of contactless payments for trains, light rail and ferries past year . Transport for NSW expects to have the tech active in the whole bus network by the end of September.

29 July 2019
Christina Milian announces EXCITING baby news with the most adorable pic
Christina Milian styled her sexy burnt orange dress with 21HM's Cia Body Chain and a blonde center part wig from Freedom Couture. Actress and singer Christina Milian has announced on social media that she is pregnant. " model Nicole Williams commented".

29 July 2019
Bugha, Aqua, and Nyhrox player profiles, settings, age, information
A British teenager has won almost £1 million after coming second with his teammate in the Fornite World Cup finals . More than a million viewers tuned in to watch online, according to Twitch , YouTube and Fortnite in-game stats.