7-China And US Agriculture Firms Sign Purchase Deals, Strengthening Trade Ties

1. China And US Agriculture Firms Sign Purchase Deals, Strengthening Trade China And US Agriculture Firms Sign Purchase Deals, Strengthening Trade Ties Ties During the China-US Sustainable Agricultural Trade Forum on October 24, eleven purchasing agreements/contracts valued at billions of dollars were signed by Chinese agricultural companies and US commodities exporters, strengthening their relationship. Trade Con Trade Contract Between The US And China tract Between The US And China On the eve of the World Food Prize Foundation's 2023 Borlaug Dialogue in Des Moines, Iowa, US, the US Soybean Export Council (USSEC), the China Chamber of Commerce for Import & Export of Foodstuffs, Native Produce & Animal By-products (CFNA), the Iowa Soybean Association, and the US Grains Council (USGC) jointly organized the forum and contract signing ceremony. Chinese Ambassador Zie Feng stated, “People are the foundation of a nation, and food is of utmost importance.” “The agricultural cooperation between US and China is a rich land with bright prospects. China is the world's largest importer of agricultural exports from the United States. The contracts signed today are worth billions of dollars. Let us sow more seeds of cooperation in the fields of hope.” Eleven purchasing contracts and agreements were signed by the following companies: ADM signed contracts with Bohi Industry, China Agri, 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 Zen-Noh Grain, Shenzhen Gem with Hangtung Resources, and Zen-Noh Grain with Bohi Industry. According to Jason Hafemeister, acting deputy undersecretary, USDA Trade and Foreign Agricultural Affairs, “the contracts illustrate the gains from trade. Food is moving from surplus regions to deficit the

2. confidence behind these contracts allows US producers to invest where they have agriculture advantages; and this relationship would help foster innovation to intensify production sustainably to deliver nutrition and food security sustainably.” China China- - US Trade US Trade With 1.4 billion people, China has the second-largest economy in the world and is the biggest consumer of Soy. It is also the world's largest importer of soy from the US, which it uses to fuel its aquaculture, animal nutrition, egg, edible oil, pork, and soy and plant-based food industries. The main food and agricultural product that the United States exports to China is soybeans. On October 22, Xie and the Chinese industry delegation went to the Kimberly farm in Maxwell, Iowa, US, to get a firsthand look at the precision and sustainable agriculture methods used in US soy production. The Kimberly family hosted China's current president, Xi Jinping, when he was the country's vice president in 2012. “China and US soy cooperation continues to yield economic growth for consumers, businesses, and producers in China and the US, as well as food and nutrition security,” stated Jim Sutter, USSEC CEO and chair of the US Agricultural Export Development Council. "The production and trade of sustainable agriculture multiply the impact. China has been a master at leveraging trade for achieving local food security and economic growth. We strive to maintain this stable and mutually beneficial cooperation between the 2 countries for successful bilateral economic and trade relations.” If you are an agricultural-commodities importer wishing to buy agricultural-commodities in bulk or a agricultural-commodities exporter willing to export bulk agricultural-commodities, then Tradologie.com is the right platform for you. Tradologie.com is a Software as a Service platform that facilitates bulk agro-trade across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities at negotiable rates. The transaction oriented platform has 600,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 150 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.