Chinese Demand Helps Brazil Hit Record-High Agricultural Exports in 2018
Xu Wei
/SOURCE : yicai
Chinese Demand Helps Brazil Hit Record-High Agricultural Exports in 2018

(Yicai Global) Jan. 21 -- Brazil broke  its own record in terms of export volume of agricultural products last  year, caused by a strengthening demand from Chinese buyers. 

Brazil exported USD101.7 billion worth of  agricultural products, up 5.9 percent from 2017, state-backed Xinhua  News Agency reported on Jan. 19, citing a report from the South American  country's Ministry of Agriculture, Livestock, and Supply.

The Chinese mainland is the largest  export destination for Brazil's farm produce, the report shows. Such  exports amounted to USD35.6 billion last year, which is 34 percent more  than that of 2017.

The growth was partly spurred by soybeans  as purchasers on China's mainland bought 68.8 million tons of such  livestock feed from Brazil in 2018, which was 28 percent more than the  previous year. China's largest soybean trade partner used to be the US,  but last year's trade frictions have raised import tariffs between the  two countries.  

Brazil's beef exports also hit a historic high of 1.35 million tons, advancing over 12 percent from 2017. Some 322,300 tons of beef was shipped to China, rising over 52 percent from the previous year. 

Agricultural products made up 42.4  percent of all Brazilian exports in 2018. The country's farm product  imports fell 0.8 percent to USD14 billion.

Editor: Emmi Laine 

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Keywords: Brazil , Agricultural products , Trade