An American ship loaded with 700,000 tons, or $20 million, of soybeans docked in China on Thursday, becoming the second US vessel carrying the grain to arrive in Chinese ports since Beijing slapped a 25% tariff on imports from the United States, Caixin reports.
The Star Jennifer arrived in Dalian after spending three weeks moored off the China coast, apparently waiting to see if the tariffs would be scrapped.
China imposed tariffs on US soybeans last month, but the move may not be a fatal blow to American grain farmers because China may struggle to find a replacement supplier in the short term. The growing season in Brazil, the largest soybean producer after the US, is already drawing to a close.
Shipments of soybeans from the US to China resumed on July 29 after a three-week gap, US government data showed.
The US Department of Agriculture forecasts that the country’s soybean sales will fall 11% over the next year to 62.3 million tons.