GUANGZHOU, China/BEIJING (Reuters) - China’s soybean imports in 2018/19 are expected to drop to 91 million tons from 94 million tons a year ago, an official of private analytics firm Informa Economics said on Wednesday.
China, which buys 60 percent of soybeans traded worldwide, is locked in a bitter trade dispute with the United States. It has curbed the country’s purchases of U.S. beans.
Beijing imposed a 25 percent tariff on a list of U.S. products including soybeans and grains on July 6, in response to similar measures levied on Chinese goods.
Brazil’s soybean production and exports are forecast to climb, Peter Rohde, Informa Economics’ vice president, told an industry conference in Guangzhou.
He projected Brazil’s soybean exports at record 80 million tons in 2019/20 as compared with 79.3 million tons a year ago.
Reporting by Hallie Gu and Dominique Patton; Editing by Sunil Nair