Tom Vilsack suggested that this was taking place in retaliation against recent restrictions on foreign ownership of farmland in the country
04/11/2024
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Tom Vilsack — Foto: Yuri Gripas/Bloomberg
U.S. Agriculture Secretary Tom Vilsack suggested that China could be favoring Brazil’s soybeans and corn partly in retaliation against recent restrictions on foreign ownership of farmland in the country, according to Bloomberg News.
Recently, the Republican-led state of Arkansas forced Syngenta Ag, controlled by Chinese state-owned group ChemChina, to sell 160 acres (64 hectares). The move was made possible with a new law in the state that restricts ownership of local lands by certain foreign groups. The area had been owned by Syngenta since 1988, when it was not controlled by the Chinese.
According to the secretary, the U.S. saw a trade deficit of $6 billion in the first quarter. “Why would that be? Is it just Brazil, or was there a reason why the Chinese ag minister asked me about Syngenta?” Mr. Vilsack told the news agency.
The U.S. secretary said China’s agriculture minister had questioned him about Syngenta in recent conversations, which would have been a “signal.”
With China buying fewer crops from the U.S., Brazil has overtaken America as the world’s top corn shipper after already doing so with soybeans. Mr. Vilsack advocated that the U.S. diversify its exports to countries other than China, but maintain trade relations with the country.
Bloomberg said it reached out to the Chinese embassy in Washington but received no response. China’s commerce and agriculture ministries were also approached by the agency but did not respond.
*Por Globo Rural — São Paulo
Source: Valor International