SAO PAULO (Reuters) – Brazilian and Chinese government authorities are finalizing a protocol setting health standards for domestic processors to export soymeal to the Asian country, André Nassar, president of oilseeds industry group Abiove, said on Monday. The health guidelines will allow companies to export and eventually compete with soy processors based in China, something they cannot do now. The change is happening as local processors are required to increase crushing to produce more biodiesel to boost local blending. The added output of soymeal, a byproduct, would need new buyers. Brazil exports a lot more raw soybeans than in meal form, and the industry would prefer a better balance, Nassar said. Soymeal is used as livestock feed in China and other meat producing nations, and demand for soymeal should rise in China as it restores pork production after an outbreak of African swine fever, Nassar said. Brazil will process an estimated 43 million tonnes of soybeans in 2019. By 2023, processing will grow by an estimated 9 million tonnes as the government raises to 15% the mandatory quantity of biofuel that will be blended into diesel, Abiove projects, from 11% currently. Nassar said Brazilian authorities were in advanced talks to… Read full this story
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