Brazil shipped 50.9 million metric tonnes (mt) of soyabeans to China between January and August, representing 78.8% of its total exports of the commodity, up from last year's figures of 44.1 million mt or 77.5%. Overall, Brazilian soyabean exports rose 20% YoY to $25.72bn by value for the period, reaching a record 64.6 million mt by volume. The increase in Chinese soybean imports is likely due mainly to increased demand in China, which has been growing at double-digit rates over recent years.
Brazil shipped 50.9 million metric tonnes (mt) of soyabeans to China between January and August, representing 78.8% of its total exports of the commodity, up from last year's figures of 44.1 million mt or 77.5%. Overall, Brazilian soyabean exports rose 20% YoY to $25.72bn by value for the period, reaching a record 64.6 million mt by volume. Soyabean shipments to China made up 30% of Brazil’s overall agriculture exports, as it benefits from the trade war between the US and China, but also grows reliance on the Far East.