China remains the main market for Brazilian soybeans with great potential for cooperation

China continues to be the main export destination for Brazilian soybeans, absorbing 70-80% of the country’s total supply, and has significant potential for further cooperation. Mauricio Buffon, president of the Brazilian Soybean Producers Association (Aprosoja Brasil), told the Global Times in an interview. According to him, Brazilian soybeans are competitive due to their high quality, productivity and minimal environmental impact compared to other producing countries.

In April 2025, China signed contracts to purchase at least 2.4 million tons of Brazilian soybeans, which is almost a third of the country’s average monthly soybean imports. The increase in demand, according to Buffon, was expected due to increased consumption in China. Brazil offers the best price-quality ratio for the huge Chinese market, which strengthens the trade partnership between the two countries.

Despite the recent Sino-US agreement to eliminate or suspend tariffs, Brazilian soybean exporters are not feeling the immediate impact. Buffon noted that the completion of the US planting season means that US producers will not be able to quickly increase supply. While the impact will be small in the short term, demand for Brazilian soybeans could decline slightly in the 2025/2026 season due to competition.

According to the Brazilian Ministry of Agriculture, the country produced 147 million tonnes of soybeans in the 2023/2024 season, of which 87 million tonnes were exported to China. In the 2025/2026 season, production is expected to reach 165 million tonnes, of which 110 million tonnes will be exported, with China remaining a key buyer. These figures highlight the importance of trade ties, which have been strengthened since Brazilian President Luiz Inácio Lula da Silva’s state visit to China, during which 20 cooperation agreements were signed.

Brazil has been actively working to diversify its exports to China, its largest trading partner since 2009. In addition to soybeans, oil and iron ore, exports of animal protein, sugar, cellulose and coffee are growing. At the same time, China is increasing the diversification of its agricultural sources, ensuring food security. In 2024, China’s grain harvest exceeded 1.4 trillion jin, which, according to officials, guarantees the country’s food self-sufficiency.

Tags: China, Brazil, soybean