(Yicai Global) Sept. 12 -- China, the biggest global consumer of soybean meal, has given the green light to farmers to start purchasing the livestock feed from Argentina, the world's largest exporter of the high-protein food crop.
China has penned an agreement with Argentina to open up to soy meal imports, Xinhua News Agency reported today, citing the South American nation's Ministry of Agriculture, Livestock and Fisheries. Previously, Argentina only exported soybeans and soybean oil to China.
China consumes about 70 million tons of soybean meal each year and Argentina exports about 30 million tons globally. Last year, Argentina's related exports tallied USD9.2 billion.
Editor: Emmi Laine