The President of the American Soybean Association has announced that exports to China are expected to rise by 5 % more than last year. It is hope that this will promote relations between China and the USA and help to balance trade between them.
China imported a quarter of the USA’s domestic production last year; it is the largest single importer of US soybeans.
Imports are increasing due to higher demand in China, rather than a reduction in domestic production. Competition is growing fiercer in the international market, as imports from South American countries such as Brazil and Argentina have also increased recently.