Latest news with #HallieGu
Deccan Herald
12-08-2025
- Business
- Deccan Herald
China loosens urea exports to India in sign of thawing tensions
By Hallie Gu and Pratik has eased curbs on urea shipments to India, in the latest indication of a thaw in tensions between Beijing and New Delhi as US President Donald Trump's trade policies target the two Asian the world's top importer of the crop nutrient, could take as much as 300,000 tons, according to people familiar with the matter. They asked not to be identified as they were not authorized to talk to the media. China is typically a major exporter of the nitrogen-based fertilizer, although it has restricted sales in recent move from Beijing comes in the wake of Trump's latest salvo of trade levies — doubling tariffs on Indian goods to 50% as a penalty for its purchases of Russian oil — which has helped warm ties between China and India. .Relations between the two Asian neighbors hit a low point in 2020, when border clashes left 20 Indian fighters and an unknown number of Chinese soldiers dead. India recently allowed tourist visas for Chinese nationals after years of curbs, and Prime Minister Narendra Modi may meet Chinese President Xi Jinping on the sidelines of a summit in Tianjin starting on Aug. 31. The Ministry of Commerce in Beijing didn't immediately reply to a fax seeking comment. India's Ministry of Chemicals and Fertilizers didn't immediately reply to a request for 2023, almost half of China's exports headed to India. But it halted sales to all destinations last year. Beijing relaxed the ban in June, while keeping its restrictions on India until the volume is small, it could grow into a significant trade flow, and help ease tight global supplies and cool high imported about 5.7 million tons of urea in the fiscal year ended March 31, down almost 20% from a year earlier, according to the Fertiliser Association of India. Purchases from China fell to almost 100,000 tons in 2024-25, compared with 1.87 million tons a year ago, it said. Given India's large, farm-dependent economy and the fact that domestic production falls short of demand, the country relies heavily on imports to bridge the gap and make supplies stable for farmers. Urea is heavily subsidized in the country, with the soil nutrient playing a critical role in boosting yields of key crops.
Bloomberg
26-06-2025
- Business
- Bloomberg
China Imports Argentina Soymeal in Trial Trade Amid US Tensions
By and Hallie Gu Save China has booked a rare shipment of soybean meal from Argentina, as the country seeks to secure supplies of a key animal feed ingredient amid an ongoing trade war with the US. Several Chinese traders and feed producers jointly ordered the cargo from the world's top exporter of soybean meal and oil as a trial shipment, according to people with the knowledge of the deal. It marks the first purchase since Beijing opened the door to imports from the country in 2019, the people said.
Bloomberg
11-04-2025
- Business
- Bloomberg
China Loads Up on Brazilian Soybeans as Trade War Escalates
China just scooped up an unusually large amount of Brazilian soybeans, highlighting how the escalating trade war is making purchases of US crops unviable. At least 2.4 million tons of beans were booked earlier this week, almost one-third of the average volume China typically crushes in a month, people familiar with the matter told Bloomberg News ' Hallie Gu. They noted that the buying spree was unusually large and fast.
