Canada Jumps into the US-China Soybean Trade Fight

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Here at JORI International Ltd., we strive to keep you informed with the latest news.  In January, Canada shipped a record amount of soybeans to China and has only increased since then.

Bloomberg reported that Canada’s shipments of soybeans to China, the world’s largest buyer, surged to a record 1.23 million metric tons in January, more than four times the amount a year earlier, and up from just over 800,000 tons in December, according to data from the General Administration of Customs on February 19th.  As trade conflicts continue to rise between China and the U.S., China’s importers look to Canada and Brazil’s supply of soybeans to avoid the 25% retaliatory tariffs on U.S. crops.

Read more here: https://www.bnnbloomberg.ca/the-latest-winner-from-the-u-s-china-trade-fight-canada-1.1219920