China issues tariff-free quota for U.S. soybean purchases: sources

[October 22, 2019]  BEIJING (Reuters) - China on Tuesday issued major Chinese and international soybean crushers with tariff-free quota to import soybeans from the United States, according to three people briefed on a government meeting to discuss the issue.

The quota to import U.S. soybeans was issued to state-owned crushers, privately owned crushers and major international trading houses with crushing plants in China, said two of the people.

A total of 10 million tonnes was issued at the meeting, which was hosted by the state planner, said one of the sources. The volume was also reported by trade publication AgriCensus earlier on Tuesday.

The meeting comes after U.S President Donald Trump said China had agreed to buy up to $50 billion of U.S. farm products annually during trade talks earlier this month.

Nobody at China's state planner, the National Development and Reform Commission, answered the phone after business hours.

(Reporting by Hallie Gu and Dominique Patton in Beijing and Naveen Thukral in Singapore; editing by David Evans)

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