June 22 (Reuters) – China is likely to buy more
soyoil from the United States if it cannot resolve a trade
dispute with major supplier Argentina, Hamburg-based oilseeds
analyst Oil World forecast on Tuesday.
“China purchased 80,000 tonnes of U.S. soyoil so far in June
and may seek additional quantities if the trade dispute with
Argentina is not resolved soon,” Oil World said.
“This will sharply raise U.S. soyoil exports and reduce U.S.
stocks.”
China, a huge soyoil buyer, in March blocked imports of
soyoil from Argentina, the world’s largest exporter, after the
South American country imposed anti-dumping duties on some
Chinese products. Despite repeated talks, the issue remains
unresolved.
The U.S. in June booked its first sale of soyoil to China
since April 2009, and there are hopes for more as China seeks
alternatives to Argentine supplies.
Sent at 7:25 AM on Tuesday