Benefits from China's accession to WTO and Brazil's soybean export market

Introduction: China's recent accession to the World Trade Organization and its huge domestic market opening to the outside world should bring recovery to Brazil's long-term development path of the soybean crushing industry According to the WTO fair trade rules, China is expected to open its market to overseas commodities in the next six years Brazil hopes that this will enable China to reopen the soybean meal and soybean oil market In recent years, China has been vigorously protecting the domestic crushing industry "After China's accession to the world trade organization, it will become an important part of the world market," said Carlo lowatley, President of abiove Because 20% of the world's population has suddenly entered the free market " China has been taking care of its crushing industry and imposing high tariffs on imported meal and oil, which has effectively prevented Brazil, the United States and Argentina from entering the Chinese market At the same time, China purchases a large number of soybeans to supply its own processing plants "China has not yet provided import quotas for soybean meal and oil, with tariffs as high as 122 percent," Mr lowatley said The European oil market has a 6.4% tariff, so we can't enter the European market But all this will change " He estimated that once China opened its market, many of the country's 2500 small, aging, home-based mills would close, leaving only a few large, modern ones, such as those in the United States, Argentina and Brazil According to abiove, Brazil is the world's largest soybean oil export country, with 1.3 million tons to be shipped in 2001 Brazil's 60 large modern crushers process soybeans into soybean meal and soybean oil, and in recent years, because of the continuous downturn in soybean oil prices, the crushing profits that these manufacturers rely on to maintain fell again and again Lowatley estimates that China will begin to provide an initial quota of 1.3 million tons of soybean oil, increase the same amount every year in the next six years, and finally allow the import of 5 to 6 million tons of soybean oil (author:) share to feed Weibo share to: