BRASILIA, July 30 (NNN-AGENCIES) — Brazilian oilseeds crushers group Abiove welcomed an agreement between Brasilia and Beijing to allow soybean meal exports from Brazil to China.
Abiove said in a statement, however, that it is still necessary “to understand the procedures for accreditation of the crushing plants,” which seems to be a requirement for actual deals and shipments to take place.
The Brazilian government confirmed that China opened its market to soybean meal produced in the South American country, adding shipments would begin when certain bureaucratic hurdles are removed.
The trade group, which represents companies like US-based Cargill and China’s Cofco, said the soymeal agreement is an important step towards greater diversification of the sector’s exports.
Brazil exports mainly soybeans, and now has the prospect of also selling more soymeal and soy protein concentrate (SPC), which is used to feed livestock. — NNN-AGENCIES
