Public policy changes export destinations of soybean
the Imposition of restrictive duties by individual States altered the direction of world grain exports in the current season has demonstrated the introduction of China's import duties on U.S. soybeans.
According to experts Oil World in October, the volume of world trade in soybeans has reduced in comparison with the previous month, from 12.68 to 11.23 million tons.
At the same time, China's share in the volume is 48% or 5.46 million tons, while in October 2017, it was 77%.
the Main supplier of soybeans to China was Brazil, which in the total exports of 5.35 million tonnes shipped to China 4,69 million tons of beans. Whereas the United States in October decreased compared with the same period last year exports of soybeans to China from 7.1 million tons to 170 thousand tons Total exports of soybeans from the United States in October amounted to 5.4 million tonnes, down from 8.6 million tons in October 2017.
while the U.S. increased soybean exports in other directions. In October, the EU imported 1.4 million tonnes of U.S. soybeans, Mexico - 550 thousand tons, Argentina - 500 thousand tons.
After the increase in exports from Brazil, local processors have sought to impose 10% export duty on soybeans to increase recycling. For the production of biodiesel in the country is 70% soy oil. According to current regulations fuel must contain at least 10% biodiesel and 5 years the figure the government plans to increase to 15%. Processors are encouraged to follow the example of Argentina, where the majority of soybeans are processed in the country, and now exports meal and oil.
Changes in tax legislation of Ukraine was supposed to stimulate soybean processing in the country, however, due to the lack of market for soybean meal and thanks to the high yield of sunflower processors prefer sunflower seeds, whereas the interest in soybeans.
the decline of the rapeseed crop, the EU in the current season have dramatically increased the import of cheap American soybeans. It will meet the needs of livestock because of drought, production of feed grains and forages also decreased.