Friday, October 7, 2016 Soy oil sales to China plunge 97%Beijing halts nearly all purchases from Argentina, as domestical processing of crop risesChina has halted its soy oil purchases from Argentina, raising concerns over the future of one of the country’s main exports, soy-based products. According to sources in the sector, exports of soy oil to Beijing have plunged in 2016 so far, though other sales of other soybean products continue. Argentina, on the other hand, saw its soy oil exports plunge from 525 million tons in 2015, when it was the main provider of soy oil to China with 65 percent of the market. Egypt, Peru, Bangladesh, Algeria and Iran have also been buyers of local soy oil this year. Demand for soybean per se would not necessarilly be affected by decisions on soy oil.

Source: Bueno Aires Herald October 07, 2016 04:18 UTC