Chinese Buyers Ink $1.5 Billion of Contracts Prior to U.S. Soy Global Trade Exchange
A trade delegation from China, representing more than 10 companies, opened the U.S. Soy Global Trade Exchange by signing contracts worth more than $1.5 billion of U.S. Soy.
China remains U.S. Soy’s top customer, buying more than one of every four rows of soybeans grown in the U.S. In a separate transaction, more than $5 billion of contracts were signed last month by separate Chinese trade delegation in Des Moines, Iowa.
Chinese demand for U.S. soybean meal continues to grow alongside with its economy. As China’s population increases and becomes wealthier, the country consumes more meat. The sustainability, exceptional composition, and consistent reliable supply of U.S. Soy – components of the U.S. Soy Advantage – make it a preferred feedstock for swine, poultry, and aquaculture alike.
“These purchase agreements are indicative of the strong relationship between the United States and China and the strength of the trade industry in general,” says Xiaoping Zhang, USSEC Country Director – China. “For 35 years, USSEC has helped foster a dialog between the U.S., as suppliers of soy and soy products, and China, as end users. U.S. soybean farmers are really listening to Chinese demands and delivering attributes like sustainability and reliability.”
USSEC made sure that the Chinese trade delegation saw these qualities for themselves on crop tours.
“The Chinese trade delegation did a lot more than sign purchase agreements on this visit to the U.S.,” says Jim Miller, USSEC chairman. “As our guests, they also toured U.S. soybean farms. This experience afforded buyers the rare opportunity to meet their suppliers firsthand and see sustainable practices up close.”
Photos courtesy of ZimmComm New Media