Chinese soy imports increase port movement in Brazil

18 October 2017

Soybean imports by China led the port of Paranaguá in the Brazilian state of Paraná to increase its cargo record of 8.5 million tonnes in 2015 to 9.5 million tonnes in the first nine months of 2017, Brazilian newspaper Gazeta do Povo reported.

The Organization of Cooperatives of Paraná (Ocepar) estimates that 86% of all soybeans already exported this year from the port of Paranaguá were destined for the Chinese market.

“Despite the high logistics costs, Brazilian production is very competitive in the foreign market, which is why Chinese buyers prefer the Brazilian market,” said Ocepar president José Roberto Ricken.

Brazil was the exporting country that most increased most soybean production, harvesting about 18.2 million tonnes more compared to the previous year, with the US coming in second with an increase of 10.4 million tonnes.

The increase in shipments of soybeans in Paranaguá in the first nine months of the year was the most representative among the main Brazilian ports that export soy, rising by 27%, while soybean shipments in the port of Santos increased by 11% and by 8% in the port of Rio Grande.

The state secretary for Infrastructure and Logistics, José Richa Filho, said that the successive records that the port of Paranaguá is setting are a direct reflection of the investments that have been and are being made in the modernisation of the port, which total over 624 million reais since 2011. (macauhub)