China buys almost half of Brazil’s soybean production

17 September 2018

China acquired 50.9 million tons of soybeans between January and August or 42.7% of Brazil’s 2017/2018 production, which total 119.3 million tons, according to the Ministry of Agriculture, Livestock and Supply.

The Secretary for Agro-business International Relations of the Ministry also said that soy exports to China accounted for almost 30% of the total value exported in agro-business products.

Odilson Ribeiro e Silva added that China also acquired 41.7% of the total paper pulp exported by Brazil and almost 20% of beef in the first eight months of the year.

From January to August, Brazil exported 64.6 million tons of soybeans, an increase of 13.5% over the 56.9 million tons exported in the same period of 2016, or 54% of the country’s production, accounting for revenue of US$25.72 billion (+20.0%).

The secretary also mentioned pulp, which hit a sales record in value – US$5.63 billion or an increase of 39.9% – and in quantity – 10.3 million tons or 9.9% more.

In addition to China, Brazilian exports from this sector increased by 113.9% to Iran and India, 64.0% to Chile and 25.3% to Thailand, and decreased to the United States and the Netherlands. (macauhub)