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在线翻译:
szdaily -> Business_Markets -> 
Soybean supply ‘closely watched’
    2018-04-11  08:53    Shenzhen Daily

THE government is watching for any impact to soybean supplies, after the government warned it would levy a 25-percent tariff on imports of the crop from the United States, the Agriculture Ministry said yesterday, the first official comment on the issue.

Current supplies to the world’s top buyer of soy were “basically normal,” the Ministry of Agriculture and Rural Affairs said in its monthly crop report, with South America the main supplier to China during the initial months of the year.

But further developments and the impact on supplies for the whole year must continue to be monitored, it added.

New Hope Group, owner of major Chinese feedmaker New Hope Liuhe, is “fully prepared” to reduce the impact of an escalating trade spat between the United States and China, group chairman Liu Yonghao told the Boao Forum on Monday.

The comments, reported by the 21st Century Business Herald, are the first by a Chinese feedmaker since the tariff spat arose.

The United States is China’s No. 2 soybean supplier, shipping around a third of its supplies last year.

New Hope will diversify its soybean sourcing, buying from Brazil, Argentina, the Middle East, Russia, India and South Africa, said Liu.

It could also use more corn, rapemeal, peanut, sunflower or even coconut meal to reduce its soymeal needs, he said, noting China has a surplus of corn.

With appropriate subsidies, China could also increase local soybean output, he added, with higher global soy prices also making local production more competitive.

“We can completely manage this problem through international procurement, adjusting the planting of crops, and adjusting feed formulas,” he said.

Government researchers and Chinese media have also talked down the likely impact of U.S. trade measures on the world’s second-largest economy and described the Trump administration’s posturing on trade as the product of an “anxiety disorder.”

“The Sino-U.S. trade friction will impact our economy, but the impact will be limited,” Wang Changlin, a researcher at the National Development and Reform Commission, wrote Monday.

Even with the U.S. tariffs, China can still reach its 2018 GDP growth target of around 6.5 percent and the impact on employment will be limited, Wang wrote.(SD-Agencies)

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