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China does not need U.S. soybeans for state reserves - Sinograin official

Reuters  |  BEIJING 

BEIJING (Reuters) - China, the world's top soybean buyer, can fully meet the needs of its state soybean reserves without importing from the United States, an official with the state stockpiler told state TV on Thursday.The comments by Lu Xiaodong, deputy general manager of Sinograin, on CCTV come after Beijing imposed 25 percent duties on imports of U.S. soybeans last Friday, in retaliation over measures imposed on Chinese goods by U.S. President Donald Trump.The steep duties on beans from China's No. 2 supplier threaten to raise costs for livestock farmers and potentially increase the price ...

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First Published: Thu, July 12 2018. 16:12 IST