WTO said in its report recently released that the soybean export volume in Brazil ranked the first of the world in 2018, 29% higher than that in the previous year, and accounting for 56% of worldwide soybean export volume.

Soybean is the major agricultural product in Brazil. Report data shows America ranked the second for soybean export volume, 20% lower than the number in 2017, and accounting for 29% of international market share.

Luiz Gutierrez, an analyst in Brazil’s consulting Company Safras＆Mercado, said the trade conflict between America and China impacted the soybean export of Brazil and America. China is the largest buyer in the global grain market, and it changed the grain import source after the trade conflict.

According to statistics of the consulting company, China totally imported 94 million ton soybeans last year, in which 85% is from Brazil and only 10% is from America. While in 2017, the 60% of soybeans imported by China is from Brazil while 35% from America.

According to the report of WTO, the export sales of all agricultural products in Brazil last year reached USD 93 billion, ranking the third in the world only next to EU (USD 681 billion) and America. Compared to the data in 2017, the export volume in 2018 increased 6% in Brazil, 6% in EU and 1% in America.