China has opened up its market for soybean meal from Brazil. The main buyer of Brazilian grain gave the green light for the soybean sub-product at a meeting of the subcommittee of the China-Brazil High-Level Commission of Agreement and Cooperation (Cosban) at the end of June. The market opening has already been made official and does not pend on any publication. Therefore, all that is left to do is for the Chinese to approve the businesses qualified for exporting soybean meal, which will happen without an incursion from the Asians but rather on the recommendation of the Brazilian Ministry of Agriculture. In addition to soybean meal, the Chinese also authorized exports of shelled peanuts, citrus pulp, concentrated soy protein, and fetal bovine serum. Negotiations for Brazilian corn shipments are set for the crop that will be harvested in 2023, as they depend on the monitoring of pests and diseases in crops, on top of the qualification of exporters. The information was confirmed by the Secretariat of Commerce and International Relations of the Ministry of Agriculture. The volume potential to be exported will depend on the market demand, as China has a lot of installed capacity to crush the oilseed.
Source: Valor Econômico/Datamar News