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China's COFCO seals billion-dollar Brazilian soybean, palm oil deals
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China's COFCO seals billion-dollar Brazilian soybean, palm oil deals
Nov 11, 2025 5:01 AM

BEIJING, Nov 11 (Reuters) - State trader COFCO's oilseed

unit said on Monday it has signed agreements to purchase

Brazilian soybeans, soybean oil, palm oil and other agricultural

products, with a total volume of nearly 20 million tons worth

over $10 billion.

The contracts with traders including ADM, Bunge

, Cargill and Louis Dreyfus were signed last week at the

China International Import Expo in Shanghai, COFCO Oils &

Oilseeds said in a statement on its official WeChat account.

The statement made no mention of U.S. farm goods. Beijing

has made modest purchases of American agricultural products,

including some soybean cargoes bought by COFCO as goodwill

gestures amid improving trade ties with Washington.

Despite easing some tariffs on a range of U.S. agricultural

goods, China has kept a 10% levy on all U.S. imports, limiting

expectations for a broader trade recovery.

Soybean tariffs, for example, have dropped from 23% to 13%,

still too high for private buyers.

Traders are watching for any large purchases by state firms

such as COFCO after the White House said Beijing pledged to buy

12 million tons by the end of the year.

China has not confirmed the figures.

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