News

Brazil advances in process to export soybean meal to China, according to ministry

Soy Protein
Soybean
Soybean Meal
China
Brazil
Published Jul 29, 2022

Tridge summary

The Brazilian government assesses that China has opened its market to soybean meal from Brazil, but some procedures are still lacking for shipments to actually take place, the Agriculture Ministry said, citing a breakthrough in negotiations for a long-awaited trade.

Original content

Commenting on a report published earlier by Estadão, the Brazilian ministry confirmed this Thursday that the soy meal market “was opened” by the Chinese, but said that “some operational procedures are still lacking”, such as company registration, for example. China is the biggest buyer of soybeans from Brazil, which, on the other hand, has always faced technical and bureaucratic difficulties to enter the Chinese bran market. Historically, the biggest buyer of the Brazilian soy derivative, used in the manufacture of animal feed, is the European Union. Sought, the association that represents soy tradings and processors, Abiove, did not immediately comment on the matter. The Brazilian ministry cited an announcement during a May 23 meeting of the Sino-Brazilian High Level Coordination and Coordination Commission that Brazil and China were “finalizing negotiations for Brazilian exports of soy meal, concentrated soy protein, citrus and fetal bovine serum. During the COSBAN summit, the ...
Source: Moneytimes

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