Brazil is still the biggest exporter of soy beans to China, and United States producers are falling behind, according to figures from China’s customs department.
From January to August China, the world’s largest soy importer, bought 41 million tons, which was a year on year rise of 4.4 percent, with Brazilian producers supplying 23.9 million tons or 58 percent of the total. This amount was a year on year increase of 20.1 percent.
Whilst Brazil benefitted from a record harvest of over 80 million tons, the United States’ soy stocks are at an all-time low following a poor harvest in 2011/12, which meant they sold just 12.5 million tons of soy to China between January and August, a year on year drop of 18.6 percent.
In August china imported 6.4 million tons of soy beans, Brazil provided 5.1 million tons, or 82.2 percent more than in August 2012, and sales by the United States in the same month fell by 99.6 percent.
Brazilian producers expect to export 40.5 million tons in the period from February 2013 and January 2014, and between January and August they sold 37.1 million tons. (macauhub)