if you are interested in it ,
Get free samples :sales@edabearings.com
Two traders familiar with the situation said that due to the competitiveness of US soybean prices relative to South American soybeans and the high profit margin of Chinese soybean crushing, Chinese commercial processors bought up to seven US soybean shipments this week, which will be shipped in December and January respectively.
The two traders said there was no clear statement about whether U.S. soybeans purchased under the tariff exemption quota system should pay additional duties. This week's purchase was conducted in this context.
Last week, the 93rd group of state-owned processors agreed to pay customs duties on a U.S. soybean ship by way of deposit, totaling about 60 million yuan (US $8.58 million), after the ship was detained in Dalian port due to a dispute with the customs over the tariff rate.
Almost all of the soybean cargoes stranded in the port will enter the state-owned storage warehouse, and all of them will be purchased by COFCO and COFCO group during the Sino US trade war truce, said one of the traders and another source from a state-owned enterprise.
Some U.S. soyabeans have been parked outside Chinese ports for nearly a month, according to Luft.
COSCO and COFCO did not respond to faxes seeking comment.
A fourth source familiar with the operation of the State Reserve said, "there is limited storage space in the State Reserve warehouse. These soybeans can only enter some warehouses, usually close to the warehouses of the crushing plant of China National Grain Storage Corporation. "
He added that when new soybeans enter the national storage warehouse, the old soybeans will be squeezed out of the warehouse.
PREVIOUS:The Fed's challenge in an election year NEXT:Alibaba launches Hong Kong IPO plan
