CHINA’S SHARE OF BRAZILIAN SOYBEAN EXPORTS REMAINS ABOVE 70%

Brazil’s reliance on China as a major buyer of soybeans persists, with 73% of the 9.46 million tons exported in January and February 2024 destined for China. Despite concerns over market dependence, China’s consistent demand has been crucial for Brazil’s soybean sector growth, contributing to its status as the world’s largest producer and exporter. Over the last five years, China’s share in Brazilian soybean exports has averaged 70.1%, signaling sustained interest. While diversification is a goal, China’s continued role remains pivotal for Brazil’s soybean industry expansion and investment.
Source: Globo Rural / Datamar News