China imported from Brazil USD 58.8 billion in agribusiness products in 2022, 43.3% more than in 2021 and practically double the flow five years ago, according to data from the Ministry of Agriculture and Livestock.
The value shipped by Brazilian agribusiness to China represented 31.9% of the total exported by the sector (USD 159 billion) and five segments sold more than USD 1 billion in 2022 to the Chinese market.
According to the data quoted by the Brazilian press, sales of soy, meats, forestry products, sugar and alcohol and fibers and textile products totalled USD 48.915 billion, 83.2% of the total shipped.
China’s soybean imports from Brazil, the main trade flow between both countries, dropped 6% in 2022, in line with reduced buys from the Asian country.
Buys from Brazil, China´s top soy supplier, were 54.4 million tonnes last year, 6% less than the previous year, Chinese customs data showed.
Drought in Brazil early in the year had tightened supplies and pushed up global prices last year, according to industry experts.
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In addition to the five prominent sectors, Brazil also ships other products, such as cocoa, coffee, cereals, juices, animal feed, oils, tea, among others.
In mid-2022, China began to release the entry of Brazilian corn, closing December with 1.165 million tons shipped in 2022.
China is the world’s largest buyer of corn and it is estimated that in the 2022/23 harvest, the Chinese market will buy 18 million tons of cereal.