Mumbai, 29 April (CommoditiesControl): As Argentina's soybean production skyrockets, American soybean sales to China are taking a hit. The U.S. used to sell over half of China's soybeans, but now it's less than a quarter. Experts predict that Argentina will sell even more soybeans to China later this year.
Brazil is also a big player in this market. Their soybeans are cheaper than America's, so Chinese buyers are choosing them more often. Plus, with the upcoming U.S. election, Chinese buyers want to be safe and buy from other countries too.
Despite this, China is still buying a lot of soybeans overall. They might buy about the same amount as last year. But for U.S. farmers, the competition from South America is tough. They're looking for new places to sell their soybeans, like in Southeast Asia or for making fuel.
(By Commoditiescontrol Bureau; +91-9820130172)
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