By Hallie Gu and Dominique Patton
By Hallie Gu and Dominique Patton
BEIJING, March 31 (Reuters) – China has agreed to permit imports of Canadian canola to renew, two sources briefed on the matter instructed Reuters on Tuesday, lifting a ban in place since March 2019 that had halted $2 billion value of commerce.
The settlement was reached on a convention name held by the 2 sides on Tuesday, stated the sources who declined to be named due to the sensitivity of the matter.
China’s Normal Administration of Customs couldn’t be reached for remark after workplace hours.
The transfer to permit imports to renew comes as China’s oilseed processors battle with traditionally tight soybean shares, and as an unprecedented coronavirus epidemic has disrupted world provide chain of farm produce.
Canola, like soybeans, is crushed into protein-rich meal for animal feed and Canada is the world’s prime provider.
Beijing had stated its ban final yr was as a result of high quality points however it got here amid tense relations with Ottawa, triggered by Canada’s detention of a prime Huawei Applied sciences Co Ltd govt.
The 2 sides additionally agreed that the share of overseas supplies within the canola shipments should be under 1%, the sources added.
(Reporting by Hallie Gu and Dominique Patton; enhancing by Jason Neely and Bernadette Baum)
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