Russia Wants to Replace U.S. as China’s Go-To Soybean Partner08/27/2018
Russia is hoping to exploit the escalating U.S.-China tariff war by cutting deals with Chinese agribusinesses to make up for lost supply.
The Washington Times reports the Kremlin said this week it will offer some 2.5 million acres of arable land to foreign investors in what analysts describe as a bid to replace the U.S. as China’s go-to soybean partner.
The offer involves arable land in Russia’s Far East, a region Moscow claims the land is great for soybeans. But many private experts say the climate is too harsh for major production at competitive prices.
China, meanwhile, is anxious to secure a reliable supply, while U.S. farmers continue to search for a place to sell the surplus they now have on their hands.
Source: Feed & Grain