A high level roundtable was hosted in conjunction with the China International Import Expo (CIIE), showcasing a cooperative spirit in the soybean industry.
Though uncertainty currently surrounds bilateral relations between the U.S. and China, conversations within the soy industry persist. To help facilitate discussion around U.S. Soy, the U.S. Soybean Export Council (USSEC) co-hosted a roundtable with the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce and Animal By-Produce (CFNA).
The roundtable aimed to enhance relations with the Chinese soy industry while encouraging importers to consider the advantages of U.S. Soy.
“When importers, exporters and commerce and trade experts convene, it provides an opportunity for questions to be asked, answers to be shared and issues to be addressed,” said Monte Peterson, USSEC chairman and soybean farmer from North Dakota, in his opening remarks. “From this, we walk away with a better understanding of not only the issues of importance, but also a better understanding of our partners’ perspectives.”
Xiaoping Zhang, USSEC Regional Director for Greater China, said executives from all major trading companies attended the roundtable.
Importer participants included executives from COFCO Oilseed Processing Division, Sinograin Oil Corporation, Jiusan Group, Yihai Kerry Group, Bohi Group, Scents Group, Hope Full Group, China Sea Group and Good Ocean. Exporters participating in the roundtable included executives from ADM, Agrex, Bunge, Cargill, CHS, Dreyfus, ECTP, Gavilon, Hang Tung, Olam, Perdue, Scoular and Zennoh.
The roundtable included multiple topics of importance to those involved.
“We invited a keynote speaker from MOFCOM Academy to talk about the current global economic situation and give a post-COVID-19 ag trade and industry outlook,” Xiaoping Zhang said. “I made a presentation on U.S. advantages in nutrition value of U.S. soybean meal, refining benefits of U.S. soybean oil and USSAP for sustainability and corporate social responsibility. CFNA provided a presentation of China’s current agriculture trade updates. Then, we talked about current China-U.S. soybean trade, both in volume and value.”
Keeping relationships top of mind, the roundtable served as a trade promotion opportunity that allowed for networking and open discussion. Organizers are hopeful this roundtable will be hosted with CIIE again in the future, continuing a partnership between the two countries.