China to start buying soybeans from Tanzania as it seeks new suppliers
Analyst says the country is trying to reduce reliance on US and Brazil, but African production levels are too low to make a real difference It is the latest African nation to sign a deal for agricultural products with Beijing, which has pledged to expand imports
China, the world’s biggest importer of soybeans, is opening its market to Tanzania as it seeks to reduce its reliance on the United States and Brazil for supplies of the oilseed.
Wu Peng, director of African affairs at China’s foreign ministry, said an agreement had been reached on Monday for Tanzania to start exporting soybeans to the country.
He said it was in line with Beijing’s pledge to support African nations by expanding imports – especially beyond natural resources – made during the Forum on China-Africa Cooperation in 2018.