China has increased its soybean imports from Brazil by 45% over the previous year in response to this year’s record crop. In August, China bought 9.09 million tons of soybeans from Brazil, which is nearly the entire amount of 9.36 million tons imported by China in the same month. This year, total exports have reached 47.99 million tons, a 17.3% increase from the same period last year. Despite Chinese purchasers increasing purchases from the world’s largest supplier, Brazil’s market share in China has remained stable.
Source: Reuters/Money Times (*Translated by Ia Niani)