Soybean meal exports to China bring a positive outlook for the industry, says Abiove

Published 2022년 7월 29일

Tridge summary

The Chinese market's inclusion of Brazil in the purchase of soybean meal, despite no shipments yet, is seen as a positive development for the Brazilian crushing industry. This is a result of four years of collaboration between Abiove and the Ministry of Agriculture. It is viewed as a diversification in international trade and could potentially lead to the export of soybean bran and concentrated soy protein. The move is also anticipated to boost the supply of vegetable oil for biodiesel production in Brazil.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

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. 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 ...

Source: Istoedinheiro