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CPO prices dragged down by US-China trade spat but don’t get over-bearish: UOB KayHian

PC Lee
PC Lee6/21/2018 12:34 PM GMT+08  • 3 min read
CPO prices dragged down by US-China trade spat but don’t get over-bearish: UOB KayHian
SINGAPORE (June 21): Despite the US and China having agreed to back down from imposing tariffs in May, the Trump administration has gone ahead to slap a 25% tariff on up to US$50 billion ($68 billion) of Chinese products.
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SINGAPORE (June 21): Despite the US and China having agreed to back down from imposing tariffs in May, the Trump administration has gone ahead to slap a 25% tariff on up to US$50 billion ($68 billion) of Chinese products.

In retaliation, China last Friday to respond with a 25% tariff on US$34 billion of US goods which includes soybean.

Since the announcement, US soybean, soybean meal and soybean oil prices have declined by 4.6%, 3.4% and 4.3% respectively from the prices recorded on June 14. Soybean futures also plunged to their lowest in more than nine years to US$8.415/bushel on June 19, according to Reuters.

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