A Chinese diplomat has said Chinese and Brazilian companies could form joint ventures to process soybeans so Brazil can sell China more processed soy meal, Reuters reports.
The news agency quotes Minister-Counsellor Qu Yuhui of the Chinese Embassy in Brasilia as saying in an interview that Chinese companies now process soybeans mainly in China, but that they could import processed soy meal from Brazil instead.
He said a Sino-Brazilian soy processing joint venture could well be profitable for both partners.
The annual value of Sino-Brazilian trade could grow by 25 percent over the next two or three years to US$110 billion as Chinese demand for Brazilian soy and corn persists, and as Chinese demand for Brazilian fruit, chicken, pork and beef increases, Reuters quotes Mr Qu as saying.
