Soybean meal exports to China bring a positive outlook for the industry, says Abiove
Soybean Meal
Brazil
China
Published Jul 30, 2022
Tridge summary
SAO PAULO (Reuters) - The opening of the Chinese market to the purchase of soybean meal from Brazil, even though shipments are not taking place, brings a positive outlook for the Brazilian crushing industry and represents diversification in international trade, said on Friday the Abiove sector association.
Original content
The entity evaluated the opening, confirmed by the federal government the day before, as a “great achievement”, the result of a joint work with the Ministry of Agriculture that has already been carried out for at least four years. “The entity considers that, from now on, it will be necessary to understand the procedures so that (if) the qualification of its production plants is carried out to meet possible future demands for bran”, said in a note the Brazilian Association of Vegetable Oil Industries ( Abiove). From the point of view of diversification, the entity recalled that Brazil already exports soybeans in grain and oil, and now has the prospect of also selling soy bran and concentrated soy protein, with China as the main customer of the complex. “It is worth noting that this market opening brings a positive expectation for the Brazilian industry to crush more soybeans with an increase in the supply of vegetable oil ...
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