The US government has forecast that China will import nearly 98m tonnes of soyabean in what could prove a major boost for the dry freight markets.
However, concerns over outbreaks of swine fever in China, Covid-19 and rising political tensions pose serious risk factors, says Simpson Spence Young (SSY).
“The latest upward revision to the US Department of Agriculture’s (USDA) Chinese soyabean import forecast…is the latest in a series of upgrades from January’s projection of 85m tonnes,” the shipbroker told TradeWinds.
