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UPDATE 1-China opens soymeal market to Argentina, world's No. 1 exporter

Hugh Bronstein and Maximilian Heath

(Adds quote from statement, quote from industry source, context)

BUENOS AIRES, Sept 10 (Reuters) - China will allow the import of soymeal livestock feed from Argentina for the first time under a deal announced by Buenos Aires on Tuesday, an agreement that will link the world's top exporter of the feed with the top global consumer.

The pact will be signed by Argentine and Chinese officials in Buenos Aires on Wednesday, Argentina's agriculture ministry said in a statement. Last month Chinese officials inspected Argentine soymeal factories in the run-up to signing the pact.

"This historic agreement represents a great opportunity for Argentina to enter the world's largest consumer market of vegetable protein for food in the livestock sector," the ministry said.

Argentina, the top global exporter of processed soy, expects to export a total of 26 million tonnes of soymeal this year globally, and 8.5 million tonnes of raw beans, it said.

Argentina had tried for years to break into the Chinese market, the biggest consumer of the meal which it uses to feed its hog herd. China, with its own crushing industry to protect, had steadfastly resisted.

The U.S.-China trade war, however, has strengthened Argentina's hand, prompting China to expand its soymeal import options, market sources say.

"It is excellent and timely news. Argentina needs to add more value to its exports to China and the world," said Luis Zubizarreta, president of Argentina's ACSOJA soy industry organization that represents farmers, exporters and seed firms. (Reporting by Hugh Bronstein and Maximilian Heath, Editing by Rosalba O'Brien and Grant McCool)