Who buys soybeans from Brazil?

China is by far the leading country of destination for soybean exports from Brazil. In 2020, the Asian country accounted for 73 percent of the Brazilian soybean export value, which totaled some 28.6 billion U.S. dollars. Spain trailed in second, as the destination for around four percent of the export value.

What country buys the most soybeans?

In the 2020/2021 period, around 166.33 million metric tons of soybeans were imported globally. China was by far the leading importer of soybeans, with an annual import volume of approximately 100 million metric tons in that year.

How much money does Brazil make from soybeans?

Brazil: soybean export value 2006-2020

Exports of soybean from Brazil amounted to approximately 28.6 billion U.S. dollars in 2020, an increase of 9.5 percent in comparison to the previous year. This is second the second highest figure reported in the decade.

Who buys soybean?

According to the agreement signed in January, China is committed to buying $12.5 billion of American agricultural goods in 2020 and another $19.5 billion in 2021. China is the world’s largest importer of soybeans, importing 60% of the world’s soybean exports.

Does the US import soybeans from Brazil?

The Brazilian imports were the lowest since January 2017, according to Reuters records of customs data. “More than offsetting that slide, China imported 7.18 million tonnes of soybeans from the United States in March, up 320% from 1.71 million tonnes in the previous year.”

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How much money does Brazil make from iron ore?

Brazil: iron ore export value 2010-2019

In 2019, exports of iron ore from Brazil reached nearly 22.7 billion U.S. dollars, the highest value reported since 2014. In comparison to the previous year, this represented an increase of 12.2 percent.

Who does Brazil export soy to?

China is by far the leading country of destination for soybean exports from Brazil. In 2020, the Asian country accounted for 73 percent of the Brazilian soybean export value, which totaled some 28.6 billion U.S. dollars. Spain trailed in second, as the destination for around four percent of the export value.

Why is China buying so much soybeans?

Besides the push to meet the trade deal, soybean imports also rose as China rapidly replenished its pig herd after it was decimated by the deadly African swine fever during the last two years. Chinese crushers mostly buy soybeans to crush into soymeal to feed livestock, mainly pigs, and soy oil.

What is the price of soybeans in China?

China has recorded strong demand for soybean but supply will remain stable, and the wholesale price will be 4,275 ($657.7) to 4,475 yuan per ton, estimated by a Chinese Agricultural Outlook Committee (CAOC) report released on Tuesday.