By Naveen Thukral, Ella Cao and Mei Mei Chu
SINGAPORE/BEIJING (Reuters) – Chinese soybean processors have turned to competitively priced Brazilian cargoes instead of U.S. oilseeds, amid fears Washington will impose import tariffs after President-elect Donald Trump takes office on Jan. 20.
Worries about revived trade tensions during Trump’s second administration have already disrupted trade flows to China, the world’s biggest agricultural goods importer, prompting buyers to stockpile inventories and seek alternative suppliers.
Chinese processors have secured nearly all of their cargoes from Brazil for first quarter shipment, according to three trade sources.
Last year, Brazil accounted for 54% of Chinese first quarter soybean imports, while the U.S. supplied 38%. China takes more than 60% of the soybeans shipped worldwide.
“Chinese crushers are now booking Brazilian cargoes for February and March shipment,” said a trader in…
