China imported 28.743 million tons of soybeans from Brazil from January to May 2022. The country is Brazil’s top importer of soybeans. Spain was the second importer, with 2.098 million tons, up 21% from the same period last year. The Netherlands came just after with 1.371 million tons, down 11% year on year. Brazilian soybean exports totaled 43.023 million tons in 2022, with foreign exchange earnings of US$24.1 billion. However, soybean exports reached 46.471 million tons in the same period last year. In 2021, Brazil total exports reached 86.1 million tons (US$38.6 billion). Brazil has already shipped 30% more of soybean meal from January to May this year when compared to the same period last year. As a result, the foreign exchange revenue from soybean meal exports so far totals 4 billion dollars. As for oil, in five months, almost one million tons were shipped (0.95 million tons), an increase of 58% compared to the same period in 2021.
Sources: Canal Rural/Agencia Safras (*Translated by Ia Niani)