China plans to increase its soybeans imports from Kazakhstan

China is interested in increasing purchases of soybeans and other oilseeds from Kazakhstan. The Chinese side proposed considering joint soybean production in Kazakhstan with subsequent exports to China. The initiative was discussed during a meeting between representatives of Kazakhstan’s Ministry of Agriculture and China’s NAFRA.

Kazakhstan, for its part, proposed developing additional mechanisms to support agricultural trade. In particular, this could include affordable financing for farmers and processors to increase production of crops that are in demand among Chinese importers.

Another option is to involve large Chinese state-owned companies as regular buyers of Kazakh agricultural products. This could help secure demand, facilitate long-term contracts and create more stable trade flows between Kazakhstan and China.

At the same time, the two countries are developing digital trade in grains and oilseeds. A joint digital platform is being considered as one of the mechanisms for expanding agricultural trade between Kazakhstan and China.

The parties also agreed to develop a joint cooperation plan involving Kazakhstan’s Ministry of Agriculture, the Food Contract Corporation and NAFRA. It is expected to cover the development of digital trade, expansion of the range and volumes of agricultural supplies to China, as well as new mechanisms for cooperation between producers and buyers in the two countries.

Tags: China, Kazakhstan, soybean, oilseeds, imports