Brazil overtakes the US, becomes main supplier of soy to China

A combine harvests soybeans

Brazil overtook the United States in 2017 to become the main soybean supplier to China, with 50.9 million tons, a figure that is a 33.3 percent increase compared to the figure in 2016, according to figures issued last week in Beijing by the country’s customs.

China imported about 95.5 million tons of soybeans in 2017, with the United States selling 32.8 million tons, down 3.85 percent, followed by Argentina, which placed 6.58 million tons in the Chinese market, with an annual decline of 17.8 percent.

In December, China imported 9.54 million tons of soybeans, a year-on-year increase of 6.13 percent, with the United States placing 6.19 million tons in the market and Brazil 1.94 million tons, an increase of 517 percent over the amount exported in December 2017.

Chinese imports of maize reached 2.82 million tons in 2017, 10.7 percent less than in 2016, with Ukraine the main supplier with 1.82 million tones, followed by the United States with 756,000 tons.

Australia was the main supplier of wheat to China, with 1.9 million tons, followed by the United States with 1.55 million tons, with Chinese imports last year totaling 4.3 million tons.  MDT/Macauhub

Cape Verde to implement ‘golden visa’ scheme

The Cape Verdean parliament approved by majority a bill that grants permanent residence permits to foreign nationals who purchase a second home in the West African archipelago.

The proposal stipulates issuing Permanent Resident Cards to foreign citizens who invest in tourist real estate costing over 80,000 euros in municipalities with a per capita Gross Domestic Product (GDP) below the national average and 120,000 euros in municipalities with GDP higher than the national average.

The permanent residence permit will be for an indefinite period and its holders will be given priority of service at the offices of the Foreigner and Borders Service, and benefits will be extended to any spouse and children aged under 14.

The bill also provides for the exemption of Single Property Tax on the properties concerned and a reduction of 50 percent over the next ten years, and retirees with incomes from outside Cape Verde will also benefit from tax exemptions.

The idea is to promote the construction sector and employment, aiming to put Cabo Verde on the map of investments in the area of tourism real estate, according to the bill.  MDT/Macauhub

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