The China National Grain and Oils Information Center says Chinese importers can substitute Brazilian and Argentinian soybean for US soybean, which an import tariff of 25 percent is making more expensive, the China Daily reports.

The Chinese government-run newspaper says the centre estimates that the 25 percent tariff on imports of soybean from the United States makes such imports about 300 yuan (US$45) dearer per tonne than soybean imported from Brazil.

The report says Chinese importers bought no soybean at all from the United States between June 7 and June 28, having cancelled orders for 615,000 tonnes.

The bumper harvest in Brazil means the supply of Brazilian soybean, and the increasing supply of soybean grown elsewhere in South America and in Central Asia, could make up for the reduction in imports of US soybean, the China Daily quotes the centre as saying.

 

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