Brazil exported 9.76 million tons of soybeans to China in May, a new monthly record according to Brazilian statistics, quoted by the AgriCensus news agency.
This is the largest soybean export to China since July 2017.
In April, Brazil exported 12.35 million tons of soybeans, with almost 80% being sent to China.
The increase in Brazilian exports comes at a time when Brazil has seen a record harvest that may reach 119 million tons this year.
The president of Aprosoja Brasil, Marcos da Rosa, quoted by website CLbrief (clbrief.com), said that Brazil has the capacity to continue to increase production.
“Brazil has production capacity, technology and surface (area),” he told CLbrief.
AgriCensus cited figures from China’s National Grain and Oil Information Centre, where Chinese soybean stocks hit a record 8.18 million tons last week as companies are creating reserves to cope with the possible impact on soybean imports of the current trade dispute between China and the United States. (macauhub)