US soybean farmers move to reduce dependence on China as trade war grinds on
Soybean farmers in the United States have stepped up efforts to diversify their export markets while maintaining China as a critical buyer, despite ongoing trade tensions between the two superpowers, according to the head of a leading industry association.
Jim Sutter, CEO of the US Soybean Export Council, said that while concerns about possible disruptions persist, China's strong demand for soybeans – a crucial commodity for food and livestock feed – would ensure the US remains an important supplier to the world's top market for the crop.
An area where China and the US have been mutually dependent for decades, soybeans became a focal point of trade talks during US President Donald Trump's first term. The two countries will hold a
new round of trade negotiations in London on Monday, following a lengthy phone call between their presidents last week.
'We've been doing a lot of work … to make sure that there is a diverse range of markets that US soybeans can go to,' Sutter said. 'That said, we've been doing work in China for 43 years and we consider China to be the No 1 customer for US soybeans.'
China imports over 80 per cent of the soybeans it needs to support its huge livestock and processing sectors, while the US exports roughly half of its output, according to data from both governments.
However, strained bilateral relations in recent years have pushed China
to diversify its supplies , reducing its dependence on the American market – even as the crop remains one of the US' top agricultural exports.
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