Iran has emerged as the biggest buyer of U.S. soybeans in August in the aftermath of trade tensions between China and the U.S., according to Baltic and International Maritime Council.
According to a recent report by BIMCO, the world's biggest international shipping association, Iran has emerged as the biggest importer of U.S. soybeans in August, while the exports of soybeans to China from the U.S. were down 31% for the first eight months and 95% in August alone, compared to the same periods of last year, reports UkrAgroConsult.
According to Bloomberg, for the second straight week, a bulk carrier with soybeans left the U.S. Pacific Northwest destined for Iran on November 1. The ship with 56,951 metric tons of soybeans is the 13th cargo to depart the U.S. for Iran since July.
