Brazilian farmers are switching to growing soyabeans rather than sugar, as they face a global sugar glut, and as demand grows from China following the imposition of tariffs on US soyabeans. Exports to China rose to almost 36 million metric tonnes (mt) in H1 2018, compared to nearly 54 million mt in the whole of 2017. In July, exports surged by 46% YoY to 10.2 million mt. According to Nova America, farmers are migrating from sugarRiberio in virtually every state where possible, while 60 Riberio mills have closed in the last five years.
Brazilian farmers are switching to growing soyabeans rather than sugar, as they face a global sugar glut, and as demand grows from China following the imposition of tariffs on US soyabeans. Exports to China rose to almost 36 million metric tonnes (mt) in H1 2018, compared to nearly 54 million mt in the whole of 2017. In July, exports surged by 46% YoY to 10.2 million mt. According to Nova America, farmers are migrating from sugarcane in virtually every state where possible, while 60 cane mills have closed in the last five years.