Cargo of Argentine soybean meal has cleared the customs of China.

A cargo of Argentine soybean meal has cleared Chinese customs, according to two Chinese traders. This is the first such shipment since Beijing approved imports in 2019, indicating the creation of a new trade channel with the world's largest exporter of soybean meal. The vessel "Sumatra" carrying 30,000 tons of Argentine soybean meal left Argentina in September and arrived in the port of Nansha in southern Guangdong province at the end of October, according to data from maritime agency NABSA and LSEG obtained through vessel tracking. "The cargo has cleared customs," said one source familiar with the situation. Consultancy Mysteel reported on Tuesday that the Argentine soybean meal entered the market with high quality and "highly competitive" prices. China is the world's largest consumer of the protein-rich raw material for animal feed, but it produces most of it by processing soybeans, mainly imported from Brazil and the United States. Argentina is the world's largest exporter of ...