U.S. soybean exports to China increased 339-fold in 15 years
before the market news that China's import tariffs on soybeans and soybean oil will be lowered, in which soybean import tariff rate will be adjusted to 3% 1% oil import tariff rate from 9% to 5% adjustment. By the news, and other factors, the Dalian Commodity Exchange on the 18th after soybean, soybean oil futures prices fell.
one industry sources, the relevant departments made of soybean and soybean oil tariff adjustment proposal, but authorities did not agree, it is estimated soybean tariff reduction is unlikely to achieve.
this rumor, China Soybean Industry Association Vice President Liu climb yesterday on the to no avail; the main producing areas and 40% of the farmers of soybeans for sale; soybean imports in 2010 reached 54.8 million tons, an increase of 29%. At present, the domestic soybean raw materials are sufficient, it should be said at this time does not meet the tariff reduction is common sense.
2010, China imported 54.8 million tons of soybean, hit a record high, the United States is the biggest beneficiary. U.S. Soybean Export Council (The US Soybean Export Council, USSEC) February 18 this year, the bulletin shows that last year China imported 825 million bushels (1 bushel equals 0.027216 tons) of soybean, or about 22.45 million tons, accounting for about 2010 In 41% of the number of imported soybeans, China has become the biggest buyer of U.S. soybeans. In 1995, the number of Chinese imports of soybeans has only 240 million bushels, 15 years later, in 2010 the number of Chinese imports of soybeans is about 340 times in 1995.
soybeans and soybean oil imports if the adjustments in tariff rates, according to the current import price of soybeans to reach a port in China is about 4300 yuan per ton and soybean oil is about 10,000 yuan per ton basis, reduction of tariffs, import of soybean price per ton will be reduced by about 80 million, imports of soybean oil price reduced by about 400 yuan per ton. Analysts said that this helps to reduce the cost of imports of soybean processing enterprises, and indirectly relieve the pressure on the domestic edible oil prices. As the imported soybean prices over the past 9 months time rose by about 40% of the domestic soybean oil prices have a strong upward momentum, the relevant departments under the control of the price of a small package without substantial increase in soybean oil.
but industry insiders pointed out that the domestic tariff reductions do not necessarily affect the price of soybeans on the international market, China's soybean price change do not. In 2010, China imported 54.8 million tons of soybeans, soybean imports far exceed the number of domestic soybean production is about 16 million tons, to a certain extent on the domestic soybean market has become the Chicago Mercantile Exchange's China reduced tariffs, but the international market, soybean prices continue to rise, China will be expensive to buy, or soybean, instead of this, not as the reduction of taxes foregone tariff subsidies to processing enterprises, the effect is more pronounced.
Liu climb that: I know, some imported from their own business interests, has been engaged in public relations, require the State to tax cuts. The more tax cuts, the greater their profits, tax cuts more pressure on the domestic soybean industry, the greater the farmers of the main producing areas, the greater the damage to soybean processing enterprises. Under normal circumstances, the state only in the domestic product shortages occur only when the lower tariffs for export. When the Chinese tariff reduction, they often first hear of prices, the result is a national tariff reduction instead of damage due to processing enterprises, and only the interests of international monopoly grain merchants formed a community enterprise, will be from the tax, the price two benefits, the adjustment tax rate is a serious matter of principle. I believe that China's tax authorities, Customs will proceed from safeguarding the national interests of China, China's soybean industry to safeguard the safety point of view, deliberate decision to tax policy. In the soybean trade issues, our government already has enough experience and lessons learned.
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