March 30, 2006

China endorses Brazilian soybeans and beef

China has given Brazil's meat production and soybean planting techniques a clean bill of health, according to Brazil's vice-president Jose Alencar.

Alencar said the Chinese authorities were impressed by the care with which cattle have been treated in Brazil and the quality of its meat.

Despite this endorsement, soybean export revenues have fallen for the second straight year this year, according to a report by SAFRAS & Mercado.

In 2005, total soy revenues of US$ 9,477 million was 5.7 percent below the US$10,048 million tonnes of the year earlier. For this year, the projection has been adjusted to US$ 9,150 million, a decline of 3.5 percent over last year.

In 2005, Brazil exported US$1.7 billion of soybeans to China, accounting for 30 percent of the latter's soy imports. China recently approved Brazilian GM soy exports for the next five years. Such licenses are usually approved yearly.