China to consider easing rules on US soy oil
Friday, 7 May 2010
NEW YORK, May 6 (Bloomberg): China, the biggest user of cooking oils, may relax a barrier on imports of soybean oil from the US after it halted shipments from Argentina, three industry executives familiar with the matter said.
The government today will discuss ways to secure supplies from the US with top state-owned vegetable oil trading companies, said the executives, who declined to be identified as the government wants to keep the meeting private.
China last month halted shipments from Argentina, the world's biggest supplier, as part of a widening trade dispute. The government last week told representatives from companies including Cofco Ltd. that it will maintain the embargo and buyers should seek supplies from Brazil and the US
"There has been speculation that China may be seeking additional sources to ensure supply," said Tommy Xiao, analyst at Shanghai JC Intelligence Co. "Though it's likely a final decision hasn't been reached."
The government today will discuss ways to secure supplies from the US with top state-owned vegetable oil trading companies, said the executives, who declined to be identified as the government wants to keep the meeting private.
China last month halted shipments from Argentina, the world's biggest supplier, as part of a widening trade dispute. The government last week told representatives from companies including Cofco Ltd. that it will maintain the embargo and buyers should seek supplies from Brazil and the US
"There has been speculation that China may be seeking additional sources to ensure supply," said Tommy Xiao, analyst at Shanghai JC Intelligence Co. "Though it's likely a final decision hasn't been reached."