The Chinese market saw a 5-10% decline in Soybean consumption

Sunday, 14 July 2019 00:00 Written by  font size decrease font size decrease font size increase font size increase font size
The Chinese market saw a 5-10% decline in Soybean consumption Photo By Gettyimages

Although China's soybean demand has still not dropped dramatically, it seems that the Americans are out of this market.

In fact, with nearly 40 percent decline in the country's production of pigs, it has been assumed that demand for soybean will also be greatly reduced.
According to estimates, the Chinese market saw a 5-10% decline in consumption.
While some experts believe that increased soy consumption in China has a direct impact on reducing the use of food waste in the livestock and poultry industry.
The US-China trade war seems to be taking its toll.
Based on estimates, from a total of 7.360,000 tonnes of imports soybean to China, Brazil left only 980,000 tonnes to the United States after supplying 6 million tons of this product.
Though Donald Trump believed that after his meeting with the Chinese president at the G20 summit, they would increase their soybean purchases, data released by the US Department of Agriculture indicate that the purchases after The meeting have dropped.
The issue that has led the Department of Agriculture and US state research institutes to shift estimates for soybean exports this year in their recent reports.

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