China opens market to rapeseed and soybean meal from Uruguay

China has opened imports of rapeseed and soybean meal from Uruguay since June 6, according to a statement from the General Administration of Customs (GAC) of China.

Thus, Uruguay has become the 12th country supplying rapeseed meal to China after the introduction of a 100% import duty on this product of Canadian origin. Previously, Canada accounted for 70% of supplies, Reuters recalls.

Traders and analysts expect a deficit in China as early as the third quarter, while alternative sources are unlikely to be able to compensate for the lost volumes.

Previously, China allowed the import of rapeseed meal from 11 countries, including Russia, Kazakhstan, Pakistan, Japan, Ethiopia, Australia, India and Belarus.

Soybean meal imports are allowed from Russia, Argentina, Brazil, South Korea, Belarus, Zambia, Kazakhstan and Taiwan.

Tags: China, soybean meal, Uruguay, rapeseed meal