Argentine soy farmers and crushers expect a boost in demand next year after the ...
BUENOS AIRES - Argentine soy farmers and crushers expect a boost in demand next year after the South American grains giant won long-sought approval from China to export soymeal, its top commodity, to the world’s biggest consumer of the livestock feed.
The deal paves the way for Argentine farmers and soy processors to start sending shipments to China from early 2020 once required plant approvals and registrations have been made, a fillip for the world’s dominant soymeal producer. Grain industry insiders said that the U.S.-China trade war had helped make Argentine soymeal exports more alluring as Beijing looks to diversify its supply options, and the deal could help local farmers make up lost ground on U.S. rivals.
“We know that last year the possibility of selling soymeal to China was zero. Now we’ve opened the market, which is good for the whole value chain,” he told Reuters. “By the time of our next soy harvest in March, April and May we hope we will have the paperwork done and have the first shipments.”
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