China seeks to secure more suppliers and closes deal with Tanzania to import soy

That Chinese demand for soy is growing and robust is nothing new. The Asian nation has considerably expanded its purchases not only of oilseeds, but of foods of all kinds and continues to work to increasingly see itself less dependent on just one - or few - suppliers. And soy is at the center of this task force. Even with taxation and the trade war still ongoing with the USA, China migrated its demand to the North American market due to the lack of product in Brazil and after considerable purchases of Brazilian oilseeds in the first half of 2020. The combination of a replenishment of stocks, hog herds and increased food consumption during the pandemic forced the country to review its strategies. According to the Chinese news site South China Morning Post, the country opened its soy market to Tanzania, as it seeks, little by little, to reduce its dependence on the main origins of Brazil and the United States. An agreement with the African country was consolidated last Monday (26), ...