China to import 5.5 million tons of U.S. soybeans
China this week signed contracts to purchase more than 5.5 million metric tons of U.S. soybeans at a value of nearly $3 billion.
U.S. Agriculture Secretary Tom Vilsack said the deal is 'a strong sign that China continues to look to the United States as a reliable supplier of high-quality products.'
The USDA chief noted that U.S. farm exports to China grew nearly tenfold over the past decade, from $1.5 billion in fiscal year 2000 to $15 billion in 2010. “Last year, China became the second largest export market for U.S. agriculture overall and remained the largest market for U.S. soybeans, with 2010 sales of $9 billion,' Vilsack said.
China to import 5.5 million tons of U.S. soybeans
