China to Start Buying Soybeans from Tanzania

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, reports the South China Morning Post on October 29.

Wu Peng, director of African affairs at China’s foreign ministry, said an agreement had been reached earlier during the week 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.  Both countries stand to benefit from stronger trade ties, Wu added.

Tanzania is the latest African nation to sign a deal with Beijing allowing agricultural exports into the country, helping to narrow the trade deficit which has been mostly in China’s favor. Other African countries with such deals include Kenya (avocados, tea, coffee, and roses), Ethiopia (coffee and soybeans), Namibia (beef), Botswana (beef and by-products), South Africa (fruit) and Rwanda (coffee).