China buys more than half of all soybeans exported by Brazil in 2022

China imported 28.743 million tonnes of soybeans from Brazil from January to May 2021. According to data from the Foreign Trade Secretariat (Secex) of the Ministry of Economy, the volume is 12% lower than the 32.735 million tonnes exported in the same period of 2021. The country is the biggest buyer of the Brazilian oilseed.

Spain kept second place after buying 2.098 million tonnes, 21% above the same period last year. In third place was the Netherlands, with 1.371 million tonnes, down 11% year on year.

Brazilian exports of soybeans to all destinations (China included) totaled 43.023 million tonnes in 2022, with foreign exchange earnings of US$24.1 billion. However, in the same period last year, shipments totaled 46.471 million tonnes, and in 2021 as a whole, Brazil exported 86.1 million tonnes, earning US$38.6 billion.

See below how did soybean shipments behave in the first four months of the year from 2019 to 2022. These data are from Datamar’s DataLiner.

Exports of Soybeans from Brazil | Jan – Apr | 2019 – 2022 | WTMT

Source: DataLiner (click here to request a demo)

Soybean complex products

In the case of soybean meal, from January to May this year, Brazil has already shipped 30% more than in the same period last year,  8.2 million tonnes. Thus, the foreign exchange earnings of these exports already total 4 billion dollars.

As for edible soybean oil, in the first five months, almost one million tonnes were shipped (0.95 million tonnes), a growth of 58% compared to the same period in 2021.

Source: Canal Rural

To read the full original article, please go to: https://www.canalrural.com.br/projeto-soja-brasil/china-compra-soja-brasil-meses-2022/

Sharing is caring!