2012 see first soybean deal between China and the United States

During the Chinese Vice President Xi Jinping's visit to the US, China signed a major deal considered to be the biggest ever one off US soybean purchase of 13.4 million tons with a total value of US$6.7 million (€5.073 million) Based on CCM International’s latest issue of Crop Protection China News.

Soybean fields in Nebraska US

Leaders from several Chinese state-owned grain companies travelled along with Vice President Xi, such as those from China National Cereals, Oils and Foodstuffs Corporation (COFCO) as well as China Grain Reserves Corporation (Sinograin), signed the deal with US grain companies such as Cargill Inc, Archer Daniels Midland Company and Bunge Ltd. According to the United States Department of Agriculture (USDA), the US sold 2.92 million tons of soybeans to China just on the same day that the deal was made, 17 Feb., 2012. Read more ...

This blog is written by Martin Little, The Global Miller, published and supported by the GFMT Magazine and the International Milling Directory from Perendale Publishers. To get your copy of 'PPLAPP' click here.