2018年CRI China's grain companies turn to alternative soybean supply sources

 

China's grain enterprises are turning to alternative sources for soybean imports, given the reduction of soybean imports from the United States amid the trade frictions¹ between the two countries.

China is the world's largest soybean importer, accounting² for 60% of global soybean imports. About 60% of U.S. soybean exports ordinarily go to China.

But the ongoing³ China-U.S. trade war has meant that American soybean farmers are losing their strong position in China's market. 

China's 25% retaliatory⁴ tariffs⁵ on American soybeans will increase the price per ton of beans from the United States by between 700 and 800 yuan, or 101 to 116 U.S. dollars. 

Yu Xubo, the president of China's biggest state-owned agricultural products supplier, China National Cereals, Oils and Foodstuffs⁶ Corporation (COFCO), says his company is turning to South America for alternative sources of imports.

"Statistics from the first half of the year show that our soybean imports from the United States dropped by 2.84 million tons, a 16% decrease. Our imports from South America grew by 15% especially from Brazil, where the volume increased by 3.82 million tons," says Yu.

Another company on the lookout⁷ for suppliers in South America is China Grain Reserves Corporation, known as Sinograin, China's state grain stockpiler. 

"Over the past few months, we have turned to other sources of soybeans, by seeking multiple import channels from global markets. Instead of purchasing soybeans from the United States, we have turned to other countries including Brazil, Argentina, Uruguay and Canada, purchasing a total of 2 and a half million tons of soybeans. 90% of the new imports come from South American countries," says Chen Xuecong, the vice⁸ general manager of Sinograin Oils Corporation.

China looks to further increase its soybean imports from South America, as well as from countries taking part in the Belt and Road Initiative.

Yu Xubo explains the advantages of this approach.

"In the long run, plough land resources in South America and the Black Sea region enjoy great potentials, so they can play an important role in supplying soybeans. Seeking alternative soybean supply sources can ensure the security of agricultural products imported to China, and it also provides opportunities for relevant countries," says Yu.

Chen Xuecong says there's no need to worry about the soybean shortage brought about by the reduction of imports from the United States.

"We will increase soybean imports from suppliers in South America and Canada, since they enjoy great potential for an increase in production and supplies. We may also consider countries bordering the Black Sea as new suppliers, such as Ukraine and Russia, as they also have the potential to boost oilseed production," says Chen.

Chen Xuecong adds that they will also find ways to increase domestic oilseed production to make up for any shortage.

1 frictions   

n.摩擦( friction的名词复数 )；摩擦力；冲突；不和

参考例句：

• Family frictions can interfere with a child's schoolwork. 家庭中的争吵会影响孩子的学业。 来自《简明英汉词典》
• As far as we are concerned, these frictions are not of our own making [have been imposed on us]. 就我们来说，这种摩擦是被动式的。 来自《现代汉英综合大词典》

2 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

3 ongoing   

adj.进行中的，前进的

参考例句：

• The problem is ongoing.这个问题尚未解决。
• The issues raised in the report relate directly to Age Concern's ongoing work in this area.报告中提出的问题与“关心老人”组织在这方面正在做的工作有直接的关系。

4 retaliatory   

adj.报复的

参考例句：

• The process can take years before the WTO approves retaliatory action. 在WTO通过此行动之前，这个程序恐怕要等上一阵子了。 来自互联网
• Retaliatory tariffs on China are tantamount to taxing ourselves as a punishment. 将惩罚性关税强加于中国相当于对我们自己实施课税惩罚。 来自互联网

5 tariffs   

关税制度； 关税( tariff的名词复数 )； 关税表； （旅馆或饭店等的）收费表； 量刑标准

参考例句：

• British industry was sheltered from foreign competition by protective tariffs. 保护性关税使英国工业免受国际竞争影响。
• The new tariffs have put a stranglehold on trade. 新的关税制对开展贸易极为不利。

6 foodstuffs   

食物，食品( foodstuff的名词复数 )

参考例句：

• Imports of foodstuffs accounted for a small proportion of total imports. 食物进口仅占总进口额的一小部份。
• Many basic foodstuffs, such as bread and milk, are tax-free. 许多基本食物如牛奶和面包是免税的。

7 lookout   

n.注意，前途，瞭望台

参考例句：

• You can see everything around from the lookout.从了望台上你可以看清周围的一切。
• It's a bad lookout for the company if interest rates don't come down.如果利率降不下来，公司的前景可就不妙了。

8 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。