Soybean exports have reached a new high of around 72.46 million tons. This unprecedented sale took place amid Brazil’s highest grain output ever, with a total of 154.6 million tons harvested in the 2022/23 season. “According to the China Customs Department (GACC), the increase in export volume is due to the increased demand in China.” Imports from China were 62.30 million tons over the same period, a 15% increase over the previous year. According to Leonardo Amazonas, an analyst at Brazil’s Supply Company (Conab), “Brazilian farmers have sold around 80.93% of the imported volume, which amounts to 50.42 million tons of soybeans.
Sources: Agrolink/CONAB (*Translated by Ia Niani)