Even as the trade truce between US and China appears to fallin place , the Indian oilmeal exporters have still kept high hopes from the Chinese market, which was projected to absorb about 2.5 million tonnes of India’s oilmeals.
“Due to trade tensions between the US and China we expected more oilmeal exports to China. But even in the case of the two countries settling their trade disputes, India stands a chance to take advantage of geographical proximity to China.” executive director, Solvent Extractors’ Association of India.
China imported a little over one million tonnes of soybeans from the US — the first time since trade tensions began. trade sources believe that considering the Chinese appetite for soybean and soybean meal, the latest quantity imported from the US was negligible, and India stands a genuine chance to tap the market. “If the trade war settles, and China starts buying soybean from the US, we still have a chance with small quantities of soybean exports for food use. Because of the non-GM soybean, which US can’t supply,