China has bought over 10 cargoes of Brazilian soy this week, as its trade tensions with the United States continue to rise causing Beijing to look towards securing supplies, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Brazil is the top supplier of soybeans to China, the world’s biggest buyer of the beans.
The development comes amid increasing tensions between the United States and China over the handling of the coronavirus outbreak and the more recent Chinese proposal of imposing national security laws in Hong Kong, to add to the long-standing trade war between Washington and Beijing.
SOURCE: Reuters
