IMPORTANCE OF CHINA AID IN INCREASING BRAZILIAN SOYBEAN PRODUCTION

Soy is currently one of the highlights in bilateral trade relations between China and Brazil. In 2019, China was the biggest buyer of Brazilian soy, according to data from the Ministry of Economy. In times of crisis caused by COVID-19, Brazil hopes to maintain the direction of exports to China, informs the agency “Xinhua”. In recent years, the significant increase in Chinese demand has driven the development of soybean culture in Brazil. According to the projection recently released by the National Supply Company (Conab), Brazilian soybean production is expected to total 120 million tons in the 2019/2020 season, an increase of 4.6% compared to the previous season, when 115 million were harvested tons. Among the major competing producers, which are the United States and Argentina, Brazil has the greatest potential for expansion in cultivated area, with the possibility of doubling production. “More than 50% of Brazilian soy is exported, and of this export, 90% goes to China to meet the Chinese demand for feeding pigs and chickens for the production of animal protein. This relationship between Brazil and China is very positive. a very important relationship for the future. Brazil will continue to increase soy production, because demand will continue to grow in China for soy and animal protein, “said Rodrigo dos Santos, president of Bayer’s agricultural division in Latin America. According to the April edition of Aprosoja Brasil’s “Estimated Crop” bulletin, China will be the destination for 85% of Brazilian fresh soy exports in 2020. Of the 120 million tons of soy that Brazil is expected to produce in 2019/2020 harvest, 77 million tonnes will be exported, including 66 million tonnes to China.

Source: Universo Agro