China's grain enterprises are turning to alternative sources for soybean imports, given the reduction of soybean imports from the United States amid the trade frictions between the two countries.
China is the world's largest soybean importer, accounting for 60% of global soybean imports. About 60% of U.S. soybean exports ordinarily go to China.
But the ongoing China-U.S. trade war has meant that American soybean farmers are losing their strong position in China's market.
China's 25% retaliatory tariffs on American soybeans will increase the price per ton of beans from the United States by between 700 and 800 yuan,
