Caixin
Sep 14, 2018 07:54 PM
ECONOMY

China Slashes Soybean Import Forecast as U.S. Trade Row Bites

The oilseed has found itself on the front line of the trade dispute between the world's two largest economies as it is the U.S.'s most valuable export to China. Photo: IC
The oilseed has found itself on the front line of the trade dispute between the world's two largest economies as it is the U.S.'s most valuable export to China. Photo: IC

*The Agriculture Ministry cut its soybean import forecast for the 2018-19 period by 11% after U.S. producers were hit by a 25% import levy

*Another factor is increasing domestic production of the oilseed, with Chinese farmers estimated to produce 8.8% more during the period

(Beijing) — China, the world’s largest consumer of soybeans, slashed its forecast for imports of the oilseed for the 2018-19 crop year, reflecting the impact of an intensifying trade dispute with the U.S., its second-biggest supplier.

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