Several Chinese agriculture companies and U.S. commodity exporter companies signed 11 purchasing agreements/contracts at the China-U.S. Sustainable Agricultural Trade Forum and Contract Signing Ceremony on the eve of the World Food Prize Foundation’s 2023 Borlaug Dialogue in Des Moines, Iowa.
The event was coorganized by U.S. Soybean Export Council (USSEC), China Chamber of Commerce for Import & Export of Foodstuffs, Native Produce & Animal By-products (CFNA), Iowa Soybean Association and U.S. Grains Council
“These contracts illustrate the gains from trade: food is moving from surplus regions to deficit," said Jason Hafemeister, acting deputy undersecretary, USDA Trade and Foreign Agricultural Affairs. "The confidence behind these contracts allows U.S. producers to invest where we have agriculture advantages. This relationship will help foster innovation needed to sustainably intensify production to deliver nutrition and food security sustainably.”
China is the world and Asia’s most populous country, and the world’s second largest economy. China is the world’s number one soy consumer, and the number one importer of U.S. Soy, which enables its world leading aquaculture, animal nutrition, egg, edible oil, pork, soy- and plant-based food sectors. Soybeans continue to be the United States’ number one food and agricultural export to China U.S. Soy has collaborated with China since 1982.
“The collaboration between China and U.S. Soy continues to deliver food and nutrition security, and economic growth for consumers, companies and producers in China and the U.S. Sustainable agriculture production and trade are impact multipliers," said Jim Sutter, CEO of USSEC and chair of the U.S. Agricultural Export Development Council (USAEDC). "China has been masterful at leveraging trade to achieve local food security and economic growth. We strive to maintain this stable and mutually beneficial collaboration cooperation between China and U.S. Soy as the ballast for successful bilateral economic and trade relations.”
Among the companies that signed 11 purchasing contracts/agreements were ADM with Bohi Industry, ADM with China Agri, ADM with Fuzhiyuan Feed Protein (Wilmar International), Bunge with Sinograin Oil, Cargill with Sinograin Oil, CHS with Bohi Enterprises, CHS with Sinograin Oil, COFCO International with China Agri, COFCO Agri with Zennoh Grain, Shenzhen Gem with Hangtung Resources, and Zennoh Grain with Bohi Industry.