China announced the cancellation of anti -dumping taxes and anti -subsidy taxes on Australia's barley earlier this month. It is reported that it has begun to import barley from the country.
Bloomberg Society on Monday (August 14) quoted people familiar with the matter reported that traders have ordered at least four ships of Australian barley, which will be shipped from September to October.
Traders said that Australia's export of animal feed in China is offer for 280 to 300 US dollars (about 380 to 406 yuan), and the price of corn in China is close to $ 400 per ton.Tradeers said that Australian products have an advantage in price.
The Ministry of Commerce of China announced in May 2020 that the tax collection rate of more than 80%of the imported tax and anti -subsidy tax on imported barley, which is native to Australia, and the implementation period was five years.It was announced on August 4 this year that the cancellation of the above measures from August 5 showed the latest signs of improvement of relations between the two countries.
Before implementing punitive tariffs, China was the largest export market of Australian barley. At that time, the deterioration of relations between the two countries also affected other commodity trade such as coal and wine.
According to the Australian Ministry of Agriculture data, the trade volume of China Australia and Macro was as high as AUD 1.5 billion (about S $ 1.3 billion) from 2017 to 2018, and it almost reduced to zero after the implementation of punitive tariffs.China chooses to purchase more barley from France, Canada and Argentina, while Australia exports have shifted to Saudi Arabia, Japan and Vietnam.
