Bunge reroutes Argentine meal shipment to China

A bulk carrier with meal has changed its final destination from Nansha (Guangzhou) to Singapore, a stopover for ships that then go to unload in China and other countries in Southeast Asia, Bloomberg writes. The agency’s sources said that the cargo was redirected due to concerns about quality: it may not meet the requirements of the Chinese side. Reuters writes about “commercial reasons” for which the batch was sent to Vietnam. Argentina is the world’s leading exporter of soybean meal. China is the largest importer of soybeans. The shipment was considered a test case for China, which practically does not import soybean meal, but processes the beans itself to produce feed. Previously, China bought soybeans mainly in Brazil and the United States. Now Chinese processors are actively buying Brazilian soybeans and diversifying their supply sources, trying to reduce the share of raw materials from the United States. Chinese customs authorities have suspended the filing of customs ...