Argentine soy oil contracts under pressure from “wash out” by Chinese importers

Chinese importers have started to practice “wash out” with Argentine soy oil contracts, which is having an impact on the local industry. “Wash out”, means previously signed contracts are being canceled, and buyers are choosing to exchange them for sunflower oil produced in the Black Sea region, which is cheaper. This practice has been adopted in the past by the Chinese with regard to soybean imports from Brazil. The adoption of this strategy by the Chinese has led soybean oil prices in Argentina to…
Real Estate and Investment News from South America
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