Turning to Brazil: China diversifying soy meal imports
Al JazeeraThis follows Beijing’s recent arrangement with Argentina, even as it relaxed tariffs on soybean imports from US. China is considering allowing imports of Brazilian soybean meal as the top pork-consuming nation looks to diversify sources of the key ingredient for pig feed, according to people familiar with the matter. The move may also help bilateral relations ahead of President Xi Jinping’s visit to Brazil in November for the BRICS Summit and comes at a time when China is expanding its footprint in Latin America. Still, China has been showing signs that it’s willing to work toward easing tensions with the U.S. Beijing has given new waivers to several domestic state and private companies to buy American beans without being subject to retaliatory tariffs, people familiar with the situation said. Still, reduced feed demand from the pork industry as well as pressure to promote the domestic crushing industry are likely to limit China’s meal imports from South America.