Brazilian soy exports should depend less on China, vice president says

 

Brazil needs to reduce its dependence on China, which is the main importer of Brazilian soy, said the South American country´s vice president, Hamilton Mourão.

“We have to look for new markets” Mourão (pictured above, left) stated speaking at the 9th Brazilian Soy Congress – Mercosoja 2022, in Foz do Iguaçu, Paraná, adding that the country is looking for new markets.

“We are betting on southern Africa, southern Asia and the Middle East”, the Brazilian vice-president added.

China’s soybean imports from Brazil rise despite higher prices

China imported 14.851 million tons of soybeans from Brazil from January to March 2022, according to data from the Foreign Trade Secretariat (Secex) of the Ministry of Economy.

The volume is 35% higher than the 10.989 million tons in the same period in 2021.

Overall, Brazilian soybean exports totaled 20.978 million tons from January to March 2022.

New historic record for trade between Brazil and China in 2021

Also highlighted by Mourão was the need for South American food producers to create an joint body, to increase competitiveness in the international export market.

“Something like OPEC (Organization of the Petroleum Exporting Countries) of food”, he exemplified.

 

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