Argentina says exports soyaoil to China for first time in three years

Argentina is exporting soyaoil to China for the first time in three years, the agriculture ministry said in a statement on Tuesday. A 29,000-tonne shipment of soyaoil was being loaded at the port of Timbues, near Argentina's Rosario grains hub, the statement said. Two more shipments of soyaoil were also planned for China, it said, for a projected total 90,000 tonnes.
"We are recovering a market in constant growth that allows us to increase our value-added exports," the statement said. China usually imports soyabeans to be crushed locally into soyaoil and soyameal livestock feed. But China is struggling to stock up on beans due to a trade dispute with the United States.
Soyoil and soyameal crushers in Argentina have had to import raw beans from Brazil, Paraguay and the United States this year due to a drought in the Pampas farm belt that hurt the harvest.