Soy Prices Skyrocket
http://www.reuters.com/article/reutersEdge/idUSTRE53G47D20090417
The Soy Prices in China have shot up, defying the recession. This is largely due to a low supply of soy from regions like South America and the United States. The reason why the price has shot up so much is that China uses a large amount of soy products as raw materials for manufactured products.
The Soy Prices in China have shot up, defying the recession. This is largely due to a low supply of soy from regions like South America and the United States. The reason why the price has shot up so much is that China uses a large amount of soy products as raw materials for manufactured products.
posted by Zachary Kenitzer at 4:42 PM
1 Comments:
Bloomberg.com post on 21 april 2009, that China, the biggest buyer of soybeans, imported 180,000 metric tons (36.74 bushels of soybeans in one metric ton.) http://www.ars.usda.gov/is/graphics/photos/nov06/d644-2i.jpg - check out this site to get a visual.
Dale Schultz, a commodity specialist at Gottsch Enterprises in Hastings, Nebraska, explains that “U.S. supplies continue to tighten [which] is driving prices higher.”
American has great impact over the other global hegemonys, china should look to plan and enact more self-reliant national policy.
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