Chinese agricultural firms are looking to expand into Russia in the hope of boosting supplies. Photo: EPA
China warned it should not pin its hopes on Russian soybeans plugging supply gap caused by US trade war
- Russian expert told China industry delegates that his country struggles to produce enough to satisfy its own demands, much less its neighbour’s
- China has been looking for alternative sources after falling US supplies left its farmers with a major headache
Topic |
China economy
Chinese agricultural firms are looking to expand into Russia in the hope of boosting supplies. Photo: EPA
China placed soybean orders of just 130,000 tonnes between July 19 and August 2, compared to previous orders in the “millions of tonnes”, partly because US soybean prices were “not competitive”. Photo: AP
China reluctant to place large soybean orders despite Donald Trump’s US trade war demands
- Beijing suspended purchases of US agricultural products in July after the US president complained that China was not purchasing enough US farm products
- Soybeans have become a focal point in the China-US trade war although China’s demand has dropped due to an outbreak of African swine fever
Topic |
US-China trade war
China placed soybean orders of just 130,000 tonnes between July 19 and August 2, compared to previous orders in the “millions of tonnes”, partly because US soybean prices were “not competitive”. Photo: AP