Brazil expands soybean, beef exports to China amid closer trade ties: data

Brazil is expanding its soybean and beef exports to China, a move that a Chinese expert said once again highlights the strengthening trade ties between China and Latin American countries amid global trade challenges and tariff pressures.

From January to October, Brazil is expected to export about 102 million metric tons of soybeans, exceeding the record of 101 million set in 2023, according to data released by the Brazilian National Association of Grain Exporters (ANEC) on Wednesday local time.

The ANEC figures showed that China remains Brazil's largest soybean export destination. As of now, 79 percent of the country's soybeans have come to China.

In addition to soybeans, other products such as beef are also gaining a foothold in the Chinese market. Brazil's beef exports to China rose 38.3 percent in September year-on-year, reaching 187,340 tons, industry group Abrafrigo said on Wednesday, helping push total monthly exports to a record high, Reuters reported.

Soybean and meat exports from South American countries such as Brazil are increasingly targeting the Chinese market, a major trading partner, highlighting a clear feature of the new trade landscape amid the global headwinds caused by the US tariffs, Wang Youming, director of the Institute of Developing Countries at the China Institute of International Studies in Beijing, told the Global Times on Thursday.

China remains the second-largest trading partner in Latin America and is the largest trading partner for countries such as Brazil, Chile, and Peru, the Xinhua News Agency reported.

Under the pressure of high US tariffs, South American companies are increasing exports to China to reduce trade risks, while China's huge consumer market provides rare opportunities for these products, the expert said, noting that Chinese companies are also diversifying their import channels to reduce trade risks caused by over-reliance on any single country.

China has been Brazil's largest trading partner for 16 consecutive years, further highlighting the importance of China-Brazil relations, according to an article published on the website of China's Ministry of Foreign Affairs in September.

In a previous interview with the Global Times, Maurício Buffon, president of the Brazilian Soybeans Growers Association (Aprosoja Brasil), said that China has been a top destination for Brazilian soybean exports over the years, taking about 70-80 percent of the country's total exports, with huge potential remaining for future cooperation.

The trade partnership between Brazil and China is very important for Brazil, Buffon said, noting that the country's products offer the best cost-benefit ratio to cater to the vast Chinese market.

In addition to soybeans and beef, other agricultural products such as corn are also part of Brazil's exports to China, Wang said, highlighting the vast opportunities to further expand China-Brazil trade for a mutually beneficial outcome.