Buenos Aires | Reuters — Argentina’s oilseed export chamber has met with Chinese officials and discussed at length the possibility of opening up soymeal exports for the first time, the head of the South American country’s industry chamber told Reuters.
Why it matters: Trade tensions with the U.S. have prompted China to seek new soy suppliers.
Gustavo Idigoras, the head of the CIARA-CEC chamber, said that the meeting had taken place with the head of China’s state grains reserve, and that the Chinese side appeared open to the idea of buying Argentina meal “if commercial conditions allow.”
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Argentina is the world’s top exporter of processed soy oil and meal. China is the biggest consumer of the protein-rich animal feed raw material but produces most of it by crushing soybeans mainly imported from Brazil and the United States.
Reuters earlier reported that Chinese firms had booked the first soymeal cargo from Argentina since Beijing approved imports in 2019, as China looks to broaden its supply options to mitigate potential disruptions from the U.S.-China trade war.
Idigoras suggested any deal still needed final sign-off.
“There are many inquiries from Chinese companies about Argentine meal, but for now, we have no confirmed transactions,” he said.
— Reporting by Maximilian Heath
