China to buy more vegoils and meals in coming weeks
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[HAMBURG] China is likely to buy a wider range of processed vegetable oils and animal feed meals on global markets in the coming weeks as the US/China trade war continues to reduce supplies of soybeans for China's oilseeds processing industry, Hamburg-based oilseeds analysts Oil World said on Tuesday.
"China is likely to become a more active buyer of vegetable oils and oilmeals on the world market to partly compensate reduced domestic production resulting from a smaller soybean crush," Oil World said in its closely-watched weekly newsletter.
Massive soybean exports from the United States to China came to a virtual stop this summer when Beijing imposed heavy tariffs on US imports as part of a trade war between the two countries.
