A ship of 30,000 tons of soy flour will leave in July from the city of San Lorenzoa small town located on the margin of Paraná River bound for Chinathe first export of this type among countries.
The operation caused repercussions on the international grain market by involving powerful Argentine agroindustrial complex -The global soybean supplier- and the gigantic market of the Asian nation. Although, analysts express a Enthusiasm mixed with caution With respect to Potential for future business of the derivative between Argentina and Chinawhich also has a powerful grinding industry and is operating under the particularities of a commercial war with USA.
For the analyst Lorena d’Angelo “If China is buying from Argentina, it is a good sign” and stressed that in a context of a Growing International Soy Flour offer of USA and Brazilthe operation is important for the domestic industry, which last year embarked 27.2 million tons of the derivative for a total of US $ 10,550 million.
According to data from the local maritime agency Nabsa The ship that will wear the Bunge company flour will start from San Lorenzo on July 16.
Caution for the sustainability of the Chinese market
Despite optimism, it should be added caution for how much the flow to China could grow and that the transaction could only be a Derived from the commercial dispute between Beijing and the United Statesthat, until the arrival of Donald Trump To the White House, it was a key provider of raw materials in China.
“I don’t see that it is an important market this year”said D’Angelo, who added that in recent years China imported a total of only 50,000 tons.
“It is a good sign, but it is more political than market,” he explained Julio Calzadathe Director of Economic Studies of the Rosario Stock Exchange (BCR), who also opted for caution, highlighting that the annual soy grinding capacity of China is 153.5 million tons, 130% higher than Argentina.
“In the sector there are doubts about the future possibilities of continuing to place Argentine soybean flour in China, because China has numerous oil plants,”Said the analyst.
The Asian giant approved only in 2019 the entrance of the soybean derivative from Argentina. The Chamber of Exporters and Ciara-Cec grain processorsHowever, on Monday he celebrated the next arrival of the Norda boat to the Terminal 6 port, operated together by Bunge and the local Oil General Deheza (AGD)in San Lorenzo.
“It is a very important shipping (…) because it implies a real and effective commercial openness”said Ciara-Cec president, Gustavo idígoras. “This should allow permanent future flow,” he said.
Source: Ambito
