By admin       2018-05-23

Bloomberg News reported on Thursday that, China scrapped an anti-dumping and anti-subsidy probe into U.S. sorghum imports as the two countries seek to resolve a trade dispute. The investigation isn’t in line with public interest, China’s Ministry of Commerce said in a statement on Friday. The Asian country announced the probe in February and in April imposed a 178.6 percent anti-dumping deposit. The ministry said it will return the deposits. The article explained that, China imported about $957 million of U.S. sorghum in 2017 and purchases fell 15 percent in the first quarter of this year from a year earlier, according to customs data. Farmers had used the grain in animal feed in place of domestic corn, which climbed 20 percent last year. Pig prices in the world’s biggest pork consumer and producer have slumped more than 30 percent this year. Last week’s article added, While the move will please U.S. sorghum farmers, China’s soy buyers remain cautious, said Paul Burke, North Asia regional director for the U.S. Soybean Export Council. ‘I do not think importers will begin buying soybeans until there is a clear statement from the Chinese government that they will not impose a 25 percent duty,’ he said in an email. The Financial Times reported on Friday that, The [Chinese sorghum] announcement came just hours after US President Donald Trump received Liu He, China’s lead trade negotiator and vice-premier, in the Oval Office on Thursday. With respect to Chinese soybean purchases, Bloomberg writer Anatoly Medetsky reported Thursday that, China, the world’s biggest soybean importer, almost tripled purchases from Russia amid a trade dispute with the U.S., the biggest producer. Russia sold about 850,000 metric tons of soybeans to China from the start of the 12-month season in July through mid-May, according to Russia’s agriculture agency Rosselkhoznadzor. That’s more than during any season before and compares with about 340,000 tons sold during all of the previous period, Chinese customs data show. The article noted that, China has already canceled several shipments from the U.S. in anticipation of tariffs on the country’s products. While Brazil is expected to take much of that market share, Russia is also benefiting. And Reuters writer Carl Plume reported late last week that, Orders for nearly 1 million tonnes of U.S. soybean exports were canceled this week, according to U.S. government data released on Friday, as cheap supplies from Brazil and trade tension with China made U.S. cargoes less attractive to buyers. The U.S. Department of Agriculture did not detail which buyers canceled the cargoes in a daily announcement of large export deals. But China buys the lion’s share of U.S. soybean exports and trade sources said most of the shipments were likely headed there.

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