Take one, pull one, China's move shows wisdom.
Russian media quoted Reuters on today, reporting that China's state-owned enterprise COFCO has purchased nine cargo ships and a total of 540,000 tons of rapeseed from Australia. This transaction is equivalent to 8% of China's total rapeseed imports in the previous year. China's move comes as Beijing imposed temporary anti-dumping tariffs on Canadian rapeseed last month.
The timing of this purchase is special. In the global rapeseed trade structure, Canada and Australia are firmly ranked first and second in export volume, while China is the world's largest rapeseed importer. In 2024, China's rapeseed imports reached 6.4 million tons, worth 3.4 billion US dollars, almost all of which came from Canada, which had long occupied the main supply position in the Chinese market.
Previously, Canada imposed tariffs on Chinese cars, steel, and aluminum products, prompting China to retaliate by launching an anti-dumping investigation on Canadian rapeseed, which placed great pressure on Canadian farmers. During this period, Australia, whose relations with China have been continuously improving, took the opportunity to increase its rapeseed exports to the Chinese market. As two important allies of the United States, Canada and Australia are now competing for the Chinese market, and China's trade strategy is seen as quite strategic by the outside world.
Original article: www.toutiao.com/article/1843846046558304/
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