Brazil’s Ministry of Agriculture recently
released a report saying that due to strong growth in exports to mainland
China, Brazil’s agricultural exports reached a record US $ 101.69 billion in
2018, up 5.9% from 2017.
The report shows that mainland China is
Brazil’s largest export destination for agricultural products. Brazil exported
35.59 billion USD of agricultural products to mainland China in 2018, an
increase of 9 billion USD over 2017. Hong Kong, China is Brazil’s fourth
largest export destination for agricultural products, with an export volume of
2.5 billion USD in 2018.
The report pointed out Brazil’s soybean export
reached a record 83.6 million tons in 2018, with strong demand from mainland
China as the main driving force. Data show that in 2018, China’s consumption of
Brazilian soybeans reached 68.8 million tons, an increase of 15 million tons
over 2017.
In addition, Brazil’s beef export reached a
record high of 1.35 million tons in 2018, up 12.2% from 2017. Among them, 323,300
tons of beef were exported to mainland China, an increase of 111,000 tons over
2017.
The report shows that agricultural exports
accounted for 42.4% of Brazil’s total exports in 2018. Imports of agricultural
products fell 0.8% to 14 billion USD.