China warned it should not pin its hopes on Russian soybeans plugging supply gap caused by US trade war
- Russian expert told China industry delegates that his country struggles to produce enough to satisfy its own demands, much less its neighbour’s
- China has been looking for alternative sources after falling US supplies left its farmers with a major headache
Russian soybean exports to China are likely to remain low for the next few years, an agricultural specialist has warned, suggesting that amount produced will not be enough to provide a real alternative to the United States.
China suspended purchases of US soybeans and other farm products this month after US President Donald Trump threatened to impose more tariffs on Chinese products, compounding the shortages caused by 25 per cent tariffs on the crop that have been in place since July last year.
Russia is one of the many alternative sources China has been exploring since the start of the trade war and last month it approved imports of soybeans from all parts of Russia, opening itself up to supplies from the European part.
Although Russia’s overall production of the crop – a vital food source for farm animals – is much lower than America’s, some in Beijing hoped its northern neighbour would be able to make a significant contribution in future.
