As we are now two months into the US soybeans trading year, the trade war between US and China is making its impact more apparent, Maritime Strategies International informs. Namely, US exports between September and October are less by 41%, as well as the exports to China (96%). However, there is an increase to shipments elsewhere (86%).
The trade war combined with the Chinese tariffs on imports of US soya beans are making their affects visible during the beginning of the soya bean exporting period in the US, as it has seen a 97% decrease in the amount of soya beans it sends to China, BIMCO said.
According to BIMCO Iran emerged as the number one buyer of US soya beans. Namely, during August 2018, 414,000 tonnes, an amount that equals five Panamax loads of soya beans were shipped to Iran. This amounts to 13.2% of total US soya bean exports in August.
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