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Morning round-up, Friday March 06

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* Argentina’s soymeal chamber, CIARA, said that the government’s plan to increase the export tax on the oilseed from 30% to 33% will result in the country being less competitive internationally.

 

In a statement it argued that the measure “will remove Argentina from soymeal and soyoil export markets”, which it currently dominates.

 

 


* Reuters sources said on Friday that China has issued tariff exemptions to some crushers in the country to import soybeans from the United States as it looks to make good on its phase-one trade deal commitments.

 

The Asian nation is expected to increase its US farm purchases by at least $12.5bn in 2020 and at least $19.5bn in 2021.

 

 

 

* Brazilian food processor, BRF has received 15 permits to export meat products to Oman.

 

The company said in a statement that it would be exporting around 5,000 tonnes of food products per month.

 

 


* According to data from the European Commission, milk production has decreased by 0.5% in New Zealand during the June-January 2019-2020 period compared to 2019-18.

 

Australian milk production for the same period was down 3.7%.

 

 


* US export data on Thursday showed that soybean sales to China dropped to their lowest weekly level in almost six months.

 

Sales reached just 6,012 tonnes for the week ending February 27, the lowest since the -2,727 tonnes recorded for the week ending September 5.

 

 

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