BEIJING: Chinese state media said on Sunday the United States has shipped several million tonnes of soybeans to China since the two countries’ leaders met in June, although US government data shows that the volume was much less.
The US-China trade war has curbed the export of US crops to China, with soybean sales falling sharply after Beijing slapped tariffs of 25 per cent on American cargoes.
US Department of Agriculture (USDA) data shows that just 1.02 million tonnes of soybeans were shipped to China for the period starting from the G20 meeting June 28 to the week ended July 18, the most recent date for which data is available. These shipments reflect purchases made earlier this year, and the USDA is expected to release new data this week.
But state broadcaster CCTV, citing China’s National Development and Reform Commission and Ministry of Commerce, said China has made enquiries to US suppliers for the purchase of soybeans, cotton, pork, sorghum and other agricultural products since July 19 — and some sales have been made.
“As long as the American agricultural products are reasonably priced and of good quality, it is expected that there will be new purchases,” the report said. Companies involved in the sales have applied for exclusions to tariffs on agricultural goods with Chinese customs officials, it said.
Wuhan-based Jim Huang, chief executive of China-data.com.cn, an independent agriculture consultancy, said on Monday that buying will be carried out by “state firms and other major players, based on the prices and their actual demand. So the process won’t be that quick.” — Reuters
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