China to end ban on imports of Argentine soybean oil

An Argentine official said Monday that China had agreed to lift its suspension of soybean oil imports from the South American nation.

“We have information that (the Chinese) are going to allow Argentine shipments of soybean oil,” Agriculture Minister Julian Dominguez told the state news agency Telam.

China halted oil shipments in April of the commodity.

Officials never provided an explanation for the suspension but said it was related to Chinese health concerns.

The suspension led to increased trade friction and prompted the Argentine government to summon the Chinese ambassador to register a complaint.

The government of President Cristina Kirchner in 2009 imposed restrictions on imports, citing the global economic crisis, which resulted in reduced purchases of appliances and textiles from China, among others countries.

Argentina is the world’s largest exporter of soybean oil, and China is one of its largest customers.
Source: AFP