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The Soybean Trade
China Business Review, The, September, 2005 by Miller, Paula M
Though US soybean trade with China has its rough spots, the future of soy trade looks bright-at least in the short run
The United States is the world's largest producer and exporter of soybeans; China is the world's largest importer of soybeans. According to the US Department of Agriculture (USDA), from September 2003 to October 2004, US soybean exports to China totaled nearly 8.3 million metric tons and accounted for almost half of China's total soybean imports (see Figure 1). From September 2004 to May 2005, US soybean exports to China reached a new record of 11.7 million tons, worth $2.7 billion, exceeding the previous year's performance. It is no wonder US soybean trade with China is a high priority for the US agricultural sector-and the US and PRC governments are working...
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