September 4, 2018 / 4:47 AM / 5 months ago

China will not face soybean shortage in fourth quarter: China soybean association

A customer scoops soybeans as she shops at a supermarket in Wuhan, Hubei province April 14, 2014. REUTERS/Stringer

HARBIN, China (Reuters) - China will not face a shortage of soybeans in the fourth quarter, despite tariffs on imports of the oilseed from the United States related to the Sino-U.S. trade war, an official from the China Soybean Industry Association said on Tuesday.

The U.S. typically supplies about a third of China’s soybean imports but Beijing has levied steep tariffs on its beans, which has halted shipments to China.

China will produce over 30 million tonnes of soybeans by 2020, Zhang Lichen, deputy director of the association, also told an industry conference.

Reporting by Hallie Gu and Dominique Patton; editing by Richard Pullin

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