Brazilian companies have exported around 50 million tonnes of soy to China from the beginning of the year until October, and this amount is expected to increase by the end of the year as Chinese demand is showing no signs of cooling, according to data from the Brazilian Association of Vegetable Oil Industries (Abiove).
The president of Abiove, Fabio Trigueirinho, told newspaper Noticias Agricolas that Brazilian soy producers are expected to end the year on a very positive note, given that demand continues to increase.
“Brazilian exports of soy beans show no signs of dropping in the coming months, which is unusual for this time of year and shows that there are buyers interested in our soybeans, and I can guarantee we have a large quantity to sell.”
In October, Chinese imports of Brazilian soy showed an increase of 132% to 3.4 million tonnes, compared with the same period in 2016, with the Brazilian product showing its competitiveness on the world market, according to data from the Chinese customs service.
Chinese customs said that since the beginning of the year Brazilian companies have exported 46 million tonnes of soy, or an annual increase of 24.4%. (macauhub)