US soybean producers are not willing to so easily lose their biggest buyer market - China - and are struggling behind the scenes to get around the so-called "Trade War." To give you an idea, after exporting $ 21 billion of the oilseed for Asians in 2017, because of the trade dispute, sales fell by 74% in volume.
CEO of the United States Soybean Export Council (USSEC), Jim Sutter has met with China's largest grain traders.According to information from Dow Jones Newswires, he is a group of leaders who are doing their best not to lose the relationship of the US agricultural sector with the Asian country.
Sutter assures Chinese buyers that US soybeans are "eager to resume exports" once the trade dispute ends.According to Sutter, his hosts agreed that "it would be good to resume trade."
"We need this market. You can not create another China, at least not overnight, "said Derek Haigwood, chairman of the Soy Export Council, who accompanied Sutter on an earlier trip to Beijing. Next month, the USSEC will host a delegation of Chinese buyers in the US.
Joe Steinkamp, an Indiana producer and director of the American Soybean Association, conveyed this message during a recent meeting with Gregg Doud, the chief agricultural negotiator at the US Trade Representative's Office. Steinkamp said he expressed concern about the impact of this scenario on young farmers, who are already accumulating debt and have difficulty obtaining access to credit: "We do not want the next generation to be scared away from agriculture."
Posted by: Marina Carvejani
Author: Leonardo Gottems