Brazil increased soybean exports to China by 72% since the beginning of the year

China last month purchased in Brazil about 5.92 million tons of soybeans, which is 11.7% higher than in April 2023, according to data from the General Administration of Customs of China. It is noted that shipments increased amid competitive prices for the South American oilseed.

In the period under review, soybean sales to the Celestial Empire increased in the United States – by 44% to 2.45 million tons. At the same time, since the beginning of the year exports from this region are estimated at only 9.58 million tons (-40% to January-April 2023).

Brazil, on the contrary, increased its sales to China by 72% to 15.9 million tons in 4 months.

Recall that China is the world’s leading importer of soybeans. According to USDA estimates, in the season-2023/24 supplies of beans to China will amount to 105 million tons, in 2024/25 MY already 109 million tons.

Tags: China, Brazil, soybean