China resumes purchases of Argentine soy beans banned since April

Tuesday, October 12th 2010 - 06:59 UTC

Full article 6 comments

China’s two largest state-owned grains and oilseeds trading companies to import soybean oil from Argentina, easing restrictions imposed in April. Beijing-based Cofco Ltd., China’s biggest grain trader, and China Grain Reserves Corp. have been cleared by the commerce ministry to import soybean oil from Argentina. Read full article

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Think
What a surprise!
Oct 12th, 2010 - 07:10 am - Link - Report abuse 0
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Hoytred
Yup ..... http://en.mercopress.com/2010/10/12/un-corn-and-soybean-futures-resumed-rally-on-monday
Oct 12th, 2010 - 07:21 am - Link - Report abuse 0
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Cadfael
Stupid argies have been conned again!
Now China gets valuable solvents for free!!
Oct 12th, 2010 - 08:09 am - Link - Report abuse 0
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xbarilox
Being an argie I must say that it´s all the same to China, Mrs. Twit Fernández de Kirchner as President or a plant pot.
Oct 12th, 2010 - 09:42 pm - Link - Report abuse 0
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Think
(4) xbarilox
Beeing a Chilean you mean?....
Oct 12th, 2010 - 09:48 pm - Link - Report abuse 0
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Pheel
3 Cadfael

Are you sure that this measure has been profitable for China? I can see that CBOT has received a lot of pressure from chinese demand, fixing the soyoil, soymeal and soybean prices in higher levels. That demand has been supplied from Argentina before, without impact on prices.
At the same time, Argentina has lost 60 dollars per ton selling to other countries because the chinese boycott, but we have been succesfull in developping other markets in SE Asia, India and N Africa. Now, China will have to compete more.
Nevertheless, China aims to process more beans and buy more oil, it`s not clear that is a sustainable strategy given her quicker demand of oil.
They have punished Argentina for putting some barriers to other products, bu
Perhaps you do have a better vision that I am missing, please enlight me!
Oct 14th, 2010 - 02:40 pm - Link - Report abuse 0
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