November 2, 2006

Brazil soy exports to China expected to rise 38 percent this year

Brazilian soy exports to China could increase 38.5 percent this year, the Brazilian Ministry of Agriculture said. 

The calculation, based on results over the last 12 months might be a reasonable estimate for the year, said Eliezer de Lima Lopes, general coordinator for exports at the Brazilian Ministry of Agriculture.

In the soy sector, Brazil's sales to China were projected to total US$2.615 billion (11.2 million tonnes) this year, compared to US$1.887 billion (7.5 million tonnes) the previous year.

China would buy 40 percent of Brazilian exports of the product this year.

China accounted for 30.3 percent or US$2.298 billion of overall Brazilian exports during January to September. In the first nine months of the year, China imported 21.2 percent of Brazilian soy exports to a value of US$1.57 billion.